After a search of candidates from both inside and outside the company, World Duty Free Group has named Eugenio Andrades its new CEO.
Andrades joined the company in 1996 and most recently had served as chief commercial officer. He replaces Jose Maria Palencia, who resigned in September.
World Duty Free Group announced the move as part of its third quarter financial release. The company had worked with a recruiting consultant to vet candidates.
Before the firm, Andrades spent several years with Aldeasa in various positions in Spain and the Middle East. He was instrumental in integrating operational and commercial practices following the merger of Aldeasa, Alpha and World Duty Free after the acquisition by Autogrill Group in 2008, according to a biography at the company’s website.
World Duty Free was founded in 1997 by BAA to run tax and duty free shopping at its locations in the United Kingdom. After Autogrill purchased the company in 2008, it integrated the three companies, with World Duty Free Group the resulting entity being fully unveiled in 2011. In 2012, the company purchased the retail division of HMSHost Corp., also owned by Autogrill. That added more than 240 stores to its portfolio.
Now, according to its website, World Duty Free Group operates 495 stores in 98 airports across 19 countries.
