El Corte Inglés reshuffles management, appoints new CEO

Madrid – El Corte Inglés (ECI) has undergone another restructuring of its executive leadership, the first under the presidency of Cristina Álvarez. The department store group, and parent company of the Sfera retail chain, has just announced the appointment of Javier Catena as its new chief executive officer. The company also confirmed the departure of its key management figure to date, Santiago Bau. Bau is stepping down from his role as managing director, a position he was appointed to only eight months ago.

According to information provided by the management of El Corte Inglés, its Board of Directors unanimously approved the proposal from chairwoman Cristina Álvarez to appoint Javier Catena as the Group's chief executive officer during a meeting held today. Catena previously served as chief operating officer (COO) at ECI, managing the supply chain, logistics and real estate divisions, until he was replaced by Álvaro Parrón last October. In his new role, Catena will oversee and direct the implementation of the company's new Strategic Plan. From his position as CEO, he will lead the ECI management committee, and the heads of all the department store group's business units will report to him.

“The appointment of Javier Catena, with the support of our great management team, will be decisive in this new phase of growth and investment,” stated Cristina Álvarez, chairwoman of the Board of Directors of El Corte Inglés, in a statement shared by the management of the Spanish department store group. She added that it “also allows us to strengthen a corporate governance structure that is better adapted to new challenges”.

Santiago Bau's departure

As a direct result of this restructuring, and alongside Catena's appointment as the new CEO of El Corte Inglés, Santiago Bau is stepping down from his position and leaving the group. Bau was promoted to managing director of the group last October following the departure of Gastón Bottazzini as chief executive officer. This was part of the same reshuffle that also saw Catena leave his role as the company's chief operating officer. ECI states that his departure was a mutual agreement.

Bau was a senior executive at Goldman Sachs until he was hired by El Corte Inglés in March 2022. The current chairwoman expressly thanked him for his “commitment and ability to execute” throughout his four years with the department store group. Cristina Álvarez, who wished Bau every success in his future professional endeavours, highlighted that his contributions have been “key to the group's path of growth and financial stability over the last four years”.