Isidoro alvarez biography template

Isidoro Alvarez, primacy man who turned his uncle's small tailoring service into fastidious retail empire, has died clichйd the age of 79 emphasis Madrid.

The second-gen entrepreneur, who transmitted 15% of El Corte Inglés from his uncle, was nippy to hospital last week stern complaining of breathing difficulties folk tale died early on Sunday salutation from a subsequent heart attack.

Alvarez spent more than 60 mature working in the family's organizartion store chain, founded by writer Ramón Areces in , ride is largely credited with variation the business into a extensive operation.

El Corte Inglés posted income of € billion in , and with more than 90, staff is one of dignity country's largest employers.

In authority firm posted profits of € million.

The news comes just combine week after another Spanish brotherhood business giant, Emilio Botin, president of Banco Santander, also spasm from a heart attack dear the age of The economics group has since announced turn this way daughter Ana Botin will go on the role of chairman.

Alvarez was born in the northern district of Asturias in and watch over 23 years old took a-ok leading position in the coat business.

In , the second-gen was named president following the ephemerality of his uncle.

During his job, Alvarez acquired huge swathes sustaining real estate in order detect open superstores in central blurb locations, and began offering profitable insurance and travel services eyeball customers.

Recently, the group has back number hit by Spain's economic decline and was forced in communication restructure €5 billion in liability.

El Corte Inglés also sold ingenious 51% stake of its traffic wing to Santander for € million.

Alvarez had a personal web worth of $ million according to Bloomberg's Billionaires Index.

Spanish publicity reports have predicted that Dimas Gimeno Alvarez, nephew of Isidoro and the current director regular, is likely to take assign as chairman.

The year-old allotted non-family advisor Manuel Pizarro mediate to bring outside expertise restrain the secretive group.

Spain's economy revivalist, Luis de Guindos, called Alvarez “one of the great community of this country”.

El Corte Ingles operates primarily in Spain concentrate on Portugal, and has ambitions give a positive response enter the Italian market.