The Cortefiel Group announced it has appointed Jaume Miquel as new CEO of Cortefiel, following the resignation of Ramon Gago.

Jaume Miquel has been with the company for 10 years as CEO of Women'secret where he delivered good results. He replaces Ramon Gago as the head of Cortefiel, who has resigned from his duties due to strictly personal reasons.

Gago, a former Inditex executive, joined the group in 2015 to assume the CEO positions at Cortefiel and Pedro del Hierro, with the aim of leading the project growth of international business after becoming one of the architects for the brand makeover.

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The Cortefiel Group closed the year 2014, covering the period from March 1, 2014 through February 28, 2015, with sales of over $112 billion dollars, 5% more than the previous year.

Specifically, the group which owns the Cortefiel, Pedro del Hierro, Springfield, and Women'secret brands, rose by 2.3% over the previous year.

Women'secret, the line of underwear and home, was the best performer for the company, showing 10.5% sales growth. Despite starting to recover in Spain, sales of Cortefiel recorded an overall decrease of 0.7%.