The Spanish department store chain El Corte Inglés has once again restructured its management structure. It is the first restructuring under Cristina Álvarez’s presidency. The company, which also owns the fashion chain Sfera, has announced the appointment of Javier Catena as its new Chief Executive Officer (CEO). At the same time, Santiago Bau, previously a key figure in the management, is leaving the company. Bau is handing over his responsibilities as general manager – a position he took on just eight months ago.
As announced by the management of El Corte Inglés, today the Board of Directors unanimously approved the proposal of Chairwoman Cristina Álvarez to appoint Javier Catena as CEO of the group. Catena previously served as Chief Operating Officer (COO) at El Corte Inglés. In this role, he was responsible for supply chain, logistics and real estate before being replaced by Álvaro Parrón last October.
In his new role as CEO, Catena will oversee and drive the implementation of the company’s new strategic plan. He will also lead the board of El Corte Inglés. The heads of all divisions of the department store chain will report directly to him in the future.
“The appointment of Javier Catena, with the support of our great leadership team, will be crucial in this new phase of growth and investment,” said Cristina Álvarez, Chairwoman of the Board of Directors of El Corte Inglés, in a statement published by the company. At the same time, this makes it possible to “strengthen a corporate governance structure that is better adapted to the new challenges,” she added.
Departure of Santiago Bau
As a direct result of this restructuring, Santiago Bau is leaving the company. Bau was only promoted to general director of the group last October. He succeeded Gastón Bottazzini, who had left as CEO at the time.
The restructuring at that time also included Catena moving out of his role as COO. With his appointment as the new CEO of El Corte Inglés, Bau is now resigning from his position. According to the company, the separation will take place by mutual agreement.
Before joining El Corte Inglés in March 2022, Bau worked as an executive at Goldman Sachs. The current chairwoman expressly thanked him for his “commitment and his ability to implement” during his more than four years working for the department store chain.
Cristina Álvarez emphasized that his contributions have been “crucial to the group’s growth and financial stability trajectory over the past four years.” Finally, she wished Bau much success in his future professional projects.
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