Mango, the well-known fashion company, is currently going through significant changes in its corporate governance in preparation for its momentous 40th anniversary in 2024. The company has not only predicted a record-breaking sales forecast of over 3 billion euros but has also announced plans to expand its board of directors and involve its CEO, Toni Ruiz, as a shareholder.

Starting from March of next year, Mango’s board of directors will grow from four to nine members. Alongside Isak Andic, the non-executive chairman, Toni Ruiz, the CEO, Jonathan Andic, and Daniel López, the executive directors, five strategic individuals will be joining the board. Among these additions is Margarita Salvans, the group’s CFO, who will become an executive director. The remaining four individuals will serve as independent directors.

One noteworthy addition to Mango’s board is Marc Puig, the president and CEO of Puig, a prominent fashion, perfumery, and cosmetics group. Another esteemed inclusion is Jordi Constans, the former general manager of Danone in Spain and the former CEO and president of Louis Vuitton. Currently serving as a board member of Puig and Fluidra. Further independent directors include Jorge Lucaya, a founding partner of AZ Capital, and Jordi Canals, a professor and president of the Center for Corporate Governance at the IESE Business School.

Isak Andic, the founder of Mango, expressed his excitement about this transformative moment for the company. He believes that the addition of new independent directors, who bring a wealth of experience, global vision, and immense recognition, will drive Mango’s strategy and strengthen the institutionalization of the organization.

In addition to the expanded board, Mango’s CEO, Toni Ruiz, will also become a shareholder of the company. Starting in December, Ruiz will hold a 5% stake in the company, a move that has been approved by the board of directors. Mango sees this capital increase as a way to enhance its stability and reaffirm its long-term project.

Toni Ruiz is highly regarded both internally and externally as an exceptional professional and individual, making him a suitable leader for the company. His ownership of Mango’s shares is a testament to his exceptional management and the excellent results he has achieved in recent years. Andic believes that Ruiz’s vision will contribute to the company’s continuity, stability, and future growth.

In response to these changes, Toni Ruiz expressed his gratitude, enthusiasm, and the great responsibility he feels in taking on this new stage. He recognizes the collective effort of Mango’s teams in creating a vision that has propelled the company to become one of Europe’s largest fashion industry groups. With strength, stability, and ambition, Ruiz is committed to driving Mango forward and leaving behind a stronger and more successful company for future generations.

Useful links:
1. Mango Official Website
2. Puig Official Website