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Leadership change at El Corte Inglés: Cristina Álvarez named new chairwoman

In a completely unexpected move, the executive who has led the department store group for the past six years has decided to step down. She will hand over the chairmanship to her sister, who has maintained a discreet, low-profile role within the company's management until now.
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From left to right, sisters Marta and Cristina Álvarez Guil. Credits: El Corte Inglés.
By Jaime Martinez

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Madrid – Spanish department store group El Corte Inglés has announced a significant leadership transition within its board of directors. Marta Álvarez has decided to step down as chairwoman, with her sister, Cristina Álvarez, appointed as the new non-executive chairwoman. The proposal was unanimously approved by the board on November 26.

Cristina Álvarez is set to assume the role on January 15, 2026. The move follows a voluntary decision by Marta Álvarez to step back after six years leading the Madrid-based company. During the board meeting, the incoming chairwoman acknowledged her sister’s tenure and pledged to assume her responsibilities “with humility”.

Marta Álvarez remains on board

While vacating the chair, Marta Álvarez will not disassociate herself from the company. She will continue to serve as a member of the board and sit on its monitoring committee, which maintains effective executive control and oversees managing director Santiago Bau. She will serve on this committee alongside José Ramón de Hoces Íñiguez and Cristina Álvarez.

Additionally, Marta Álvarez retains executive oversight of the group's private label brands, fashion and home divisions. In a letter to shareholders, she expressed confidence in the management team regarding the 2025-2030 Strategic Plan. She noted that with the new goals in sight, it is time to begin a “new chapter” in the chairmanship.

H1 results

  • The appointment of Cristina Álvarez coincided with the presentation of its results for the first half of 2025.
  • Despite stagnant total revenue (+0.09 percent), the company achieved a significant increase in net profit (+10.34 percent) during the period, driven by improvements in management and efficiency.
  • The fashion and beauty division delivered the best performance (+2.73%) within its strategic retail business. The company remains optimistic about the Black Friday and Christmas campaigns as it progresses with debt reduction and the implementation of its 2025-2030 Strategic Plan.
    • This article was translated to English using an AI tool.

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    Cristina Álvarez
    El Corte Inglés
    Marta Álvarez