Carlos March leaves the presidency of the Alba Corporation to his son Juan March.

PalmCarlos March Delgado has stepped down as chairman of Corporación Financiera Alba (the investment arm of the March family) after turning 80. He has been replaced in the position by his son, Juan March de la Lastra, the corporation announced on Tuesday.

The board of directors of Corporación Financiera Alba has agreed to appoint Juan March de la Lastra, who was previously the company's first vice president, as its chairman, the company explained in a statement. The company's current second vice president, Juan March Juan, will become sole vice president.

Corporación Financiera Alba delisted from the stock market this year to become wholly owned by members of the March family, after acquiring the last remaining stakes held by minority shareholders following the delisting takeover bid announced at the end of 2024. Juan March delisted, Corporación Financiera Alba will continue to be one of the largest institutional investors in Spanish capital, and the delisting will have no impact on either its future investment strategy or its current holdings.

He added that, as in Banca March, in which the family is also the sole shareholder, they will maintain corporate governance with a large majority of independent directors, separation of powers for the best medium- and long-term decision-making, and value generation that takes into account all stakeholders. Corporación Financiera Alba takes significant long-term minority stakes in listed and unlisted companies, both in Spain and abroad, with activities in different economic sectors.

The average tenure of the investments in Alba's portfolio is over ten years, although it exceeds twenty for companies such as ACS, Acerinox, and Pryca-Carrefour. Alba also engages in the direct operation of rental properties, as well as holdings in companies through venture capital firms.