El Corte Inglés has set July 24 in Madrid for the celebration of its ordinary general shareholders' meeting, which will be the first presided over by Cristina Álvarez at the helm of the department store group.
At this meeting, the company will bring together its partners to review and submit for approval the accounts for the fiscal year ending February 28, 2025. It will also be the official presentation of Cristina Álvarez as the company's top executive after taking over from her sister Marta on January 15, when the latter stepped down as president after six years due to a "personal and voluntary decision" within the framework of an "orderly, stable, and continuous" succession.
The shareholders' meeting will also serve to analyze the degree of compliance and the goals set in the current Strategic Plan for the period 2025-2030. All of this will be addressed in a context also marked by the departure, at the end of October last year, of the then CEO, Gastón Bottazzini.
The agenda includes the approval of the annual accounts, the management report, and the proposal for the application of the results of the fiscal year ended February 28, 2025, documents that have undergone the corresponding audit process.
Likewise, it is expected that shareholders will endorse the management carried out by the board of directors during said fiscal year, in addition to deciding on the appointment of the auditor and the ratification of the purchase and sale transactions carried out with own shares throughout the year, as stated in the Official Bulletin of the Mercantile Registry (Borme), as reported by Europa Press.
Among the matters to be put to a vote are also the appointment, re-election, or dismissal, as the case may be, of directors and the determination of the number of members of the administrative body, the approval of the board's remuneration policy, and the authorization for the derivative acquisition of own shares, as well as for the disposal of treasury stock.
In this way, the meeting will mark Cristina Álvarez's debut before the shareholders as president of El Corte Inglés, after Marta handed over the reins to her sister following six years in the position "due to a personal and voluntary decision." Despite leaving the presidency, Marta continues to be part of the board and the Monitoring Committee, focusing her work on the strategic direction of the Own Brands, Fashion, and Home areas.
Graduated in Economics, Cristina Álvarez joined El Corte Inglés in 1992 and has developed her career in different divisions of the group. Since 2015 she has been a director and, over the years, has been part of all the board of directors' committees, eventually chairing the Appointments and Remuneration Committee.