Marta Álvarez Passes the Baton: A New Era for El Corte Inglés
Marta Álvarez has officially stepped down as the president of El Corte Inglés after more than six years, marking a significant transition in leadership. Her sister, Cristina Álvarez, has been appointed as the new non-executive president, a decision that was unanimously approved by the Board of Directors in a recent meeting. This move is characterized as a “personal and voluntary” choice by Marta, who communicated her decision through a letter to shareholders.
Transition of Leadership
The official change will take effect on January 15, 2026. During the Board meeting, Cristina expressed her gratitude to her sister, acknowledging the “magnificent work” Marta accomplished during her tenure. She committed to leading the company with humility, emphasizing her dedication to the best interests of shareholders, employees, and customers.
Marta’s departure comes as El Corte Inglés undergoes internal restructuring. Just a month prior, the company experienced a shake-up with the resignation of CEO Gaston Bottazzini, who had been at the helm for only a year. Bottazzini’s tenure was marked by efforts to implement a strategic plan aimed at investing €3 billion to modernize the company by 2030.
Continued Involvement
Even after stepping down, Marta will maintain a role within the organization. She will continue as a member of the company’s Monitoring Commission and will oversee the strategic direction of Own Brands, Fashion, and Home. She has expressed her full support for Cristina, affirming her belief in the company’s future direction.
Positive Financial Results
Amid this leadership change, El Corte Inglés has reported solid financial performance for the first half of the 2025-2026 fiscal year. From March 1 to August 31, the Group achieved €8.2 billion in global revenue, with comparable turnover seeing a modest increase of 1.6% to reach €7.03 billion.
Profitability Gains
The company has also shown improvements in its profitability metrics. The Ebitda grew by 3.8% to €539 million, while the net profit surged by 10.3% to €224 million. Additionally, the recurring net profit advanced by 13.8%, attributed to enhanced management efficiency.
Retail and Travel Sectors Thrive
In the retail sector, El Corte Inglés reported global revenues of €5.9 billion, alongside a turnover of €5.65 billion, representing a 1.2% increase on comparable terms. Notably, segments such as fashion and beauty showed significant growth, particularly in the company’s own brand and sales of external brands.
The travel division also fared well, with global income reaching €2.05 billion, a turnover of €1.26 billion, and an increase of 3.3% compared to the prior year. The company has solidified its leadership position within the vacation segment, which grew by 5.3%.
Strengthened Financial Position
El Corte Inglés’s financial services have also demonstrated resilience. The income from Seguros El Corte Inglés climbed by 11.1% to €153 million, while their net profit increased by 22.9% to €43 million. Furthermore, the income from Financiera El Corte Inglés grew by 5.7% to €95 million.
A significant aspect of the company’s financial health is the reduction in net financial debt, which now stands at €1.74 billion, down €195 million from August 2024, signaling robust cash generation and strategic investment opportunities.
Looking Forward
As El Corte Inglés embarks on this new chapter under Cristina Álvarez, the company anticipates positive outcomes for the upcoming autumn campaigns, especially with key events like Black Friday and Christmas on the horizon. With a focus on efficiency and strategic investment, the company is well-positioned to continue its legacy as a major player in the retail landscape.