Overview
- The board approved an immediate reshuffle of the top executive team on October 29, confirming Bottazzini’s departure.
- Santiago Bau, previously corporate managing director, was named director general with responsibility for all business units as well as corporate and finance.
- Rafael Díaz Yeregui was promoted to general secretary with director general rank overseeing legal, sustainability and human resources, and Álvaro Parrón will lead Real Estate, replacing Javier Catena.
- During his tenure, Bottazzini led the 2025–2030 plan centered on reducing debt and supported a €225 million dividend following improved 2024 results.
- Spanish media, citing sources close to the company, linked the change to strategic differences with the Álvarez family, while the company framed the exit as mutual and the timing precedes Black Friday and Christmas, key profit periods for the group.