Mango promotes CFO Toni Ruiz to general manager post
today Oct 29, 2018
Mango has reshuffled its senior management team. The Catalan fashion group announced the appointment of Toni Ruiz as general manager. Ruiz is already a member of the board of directors, having been Mango’s CFO since 2015.
The new appointment is designed to strengthen Mango’s senior executive team and improve the company’s performance. Mango still needs to fully embrace digital tools, and boost its ability to “adapt (...) to the industry's new challenges.” Ruiz’s appointment signals the reintroduction of the general manager post, which had been suppressed since the departure of Enric Casi in 2015.
Ruiz is an economics graduate from the University of Barcelona and has an MBA from the IESE business school. He was Mango’s CFO since 2015. He joined the Spanish fashion group after a career at home and gardening retailer Leroy Merlin, of the Adeo group, where he acted as CFO for Spain and was in charge of international control and planning. At Mango, Ruiz will report directly to the group’s president and founder Isak Andic.
Daniel López and Jonathan Andic will keep their positions as executive presidents. The board of directors, chaired by Isak Andic, will also be joined by Chief Strategy and Operations Director Carlos Costa.
Mango was founded in 1984 in Barcelona, and is currently present in over 110 countries via a network of 2,190 monobrand stores, for a total retail area of 800,000 square metres. In 2017, the group generated a revenue of €2.194 billion, down 2.9%. With losses of €33 million, 45% less than the previous year, last year Mango posted a loss for the second financial year in succession. The challenge facing Ruiz could not be clearer.
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