What: El Corte Inglés has appointed Santiago Bau as CEO and restructured its executive team to drive the next phase of its transformation.

Why it is important: The appointment of new leaders with strong financial and legal backgrounds signals a commitment to robust governance and sustained growth, echoing recent shifts in the company’s management approach.

The recent executive reshuffle at El Corte Inglés, with Santiago Bau appointed as CEO and Rafael Díaz Yeregui as General Secretary, marks a pivotal moment in the company’s ongoing transformation. This leadership transition follows a series of strategic changes initiated over the past year, including the creation of a Transformation Office and the streamlining of governance structures to enhance agility and decision-making. The company’s commitment to internal talent development is evident in the promotion of executives across key divisions, particularly in fashion and real estate, supporting both operational continuity and innovation. These moves align with El Corte Inglés’s broader strategy of asset optimisation, digital integration, and sustained investment, as seen in its €3 billion modernisation plan and the effective management of its €15.7 billion real estate portfolio. The new executive team, reporting to a strengthened Monitoring Committee, is expected to drive the next phase of growth, balancing traditional retail strengths with a renewed focus on efficiency, governance, and market responsiveness.

IADS Notes: Throughout 2025, El Corte Inglés has demonstrated a systematic approach to leadership renewal and organisational transformation. In March 2025, the company expanded Santiago Bau’s responsibilities and created a Transformation Office (El Confidencial, March 2025). In April 2025, it replaced its executive committee with a non-executive monitoring committee to reinforce agile governance (Modaes, April 2025). The June 2025 reorganisation of the fashion division (Modaes, June 2025) and the July 2025 optimisation of the real estate portfolio (Modaes, July 2025) further illustrate the company’s focus on internal talent and asset management. These developments, underpinned by a €3 billion investment plan and ongoing executive changes (Modaes, October 2025), position El Corte Inglés for continued growth and modernisation.

El Corte Inglés appoints Santiago Bau as its new CEO