New CEO and CFO
The 58-year old CEO will step down “because of personal reasons”, the company said, although he will remain part of the board of directors. The Chief Operations and Strategy Officer, Carlos Costa, and the new 45-year old CFO, Toni Ruiz, will take over the CEO’s day-to-day tasks for the time being.
Ruiz will start working at Mango on 15 February, after 16 years at construction group Leroy-Merlin. A new CEO will probably be appointed later on, but no date has been set so far.
Continue expansion
Mango had a 2013 turnover of 1.85 billion euro, thanks to 2,731 stores in 105 countries and more than 13,000 employees. The company hopes to hit even great heights, because it wants to “be present in every city”. Despite its lofty goals, Mango has had to hit the brakes recently: it had hoped to reach a 4.97 billion euro turnover by 2017, but adjusted that number considerably recently, down to 3.27 billion euro.
Its target audience is women, men and children, but among its adult audience, it mostly reaches people in their 20’s and 30’s.
