In an expected decision arising from the composition of the Spanish fashion group’s board of directors, Toni Ruiz, CEO of Mango, has also taken over as chairman of the company following the sudden death of Isak Andic. He will hold this position on an interim basis – not as CEO, but as deputy chairman of the board of directors – until a new chairman is appointed.
This decision marks the end of one of the most challenging weeks in Mango’s 40-year history. On Saturday, December 14, the sudden death of Isak Andic, founder and non-executive chairman of the company, was confirmed. According to Mango, the appointment of Toni Ruiz complies with the provisions of the Spanish Corporations Code and the company’s statutes. Ruiz will take over as chairman on an interim basis until a successor is chosen.
With the appointment of Toni Ruiz as interim chairman, Mango emphasizes his crucial role in the transformation of the company since he joined in 2015. Under his leadership, Mango achieved the best results in its history in 2023, with above-average growth and a solid financial base. Mango spread this message through various media to allay possible uncertainties following Andic’s death. While the distribution of the estate – particularly the 95 percent of the company’s shares – is still pending, Mango emphasizes that the company has a “stable and market-driven governance model” that has been established for two years.
In support of this message, Mango emphasizes that “the professionalization and adoption of best governance practices by Isak Andic ensure the continuation of the strategic plan.” The “Plan 4E”, presented in March, defines the strategic goals until 2026. Both the board of directors and the Andic family – represented by Jonathan Andic, the son of the founder – have publicly expressed their support for this plan. The plan will continue based on the professional model introduced by Isak Andic: a family-run company with a non-executive presidency and professional operational management. In the next few years, Toni Ruiz will continue to act as CEO and take over the interim chairmanship of the board of directors.
Toni Ruiz: Interim Chairman and CEO of Mango
It remains to be seen who will ultimately succeed Isak Andic as chairman – presumably a member of the Andic family. Until then, company management will remain unchanged. Strategic decisions are made by the board of directors and implemented by the board of directors. These two central bodies ensure the operational continuity of the company and the implementation of the strategic plan for 2024 to 2026.
As part of the unveiling of this plan, Mango had undertaken a restructuring of the board of directors on March 1 to strengthen governance. The Board of Directors was expanded to include four independent members and now consists of nine people. Following the death of Isak Andic, the council is composed as follows: Toni Ruiz (CEO and interim chairman), Jonathan Andic, Daniel López and Margarita Salvans as executive members and Jordi Canals, Jordi Constans, Jorge Lucaya and Marc Puig as independent members. Eugenia Jover, Head of the Legal Department, continues to serve as non-voting secretary.
The board of directors consists of ten members and is also led by Toni Ruiz as CEO. Other members include Jonathan Andic (Global Director Mango Man), Elena Carasso (Director of Online and Customers), Luis Casacuberta (Director of Product and Sustainability), Daniel López (Director of Expansion and Franchising), Jordi Álex Moreno (Director of Technology and Security), Blanca Muñiz (Brand Director), David Payeras (Director of Human Resources), Margarita Salvans (Finance Director) and César de Vicente (Global Retail Director).