CdM | Bernardo Villazán, independent member of Indra’s board of directors, has resigned as a member of the committee created by the company to manage conflicts of interest arising from the possible merger with Escribano Mechanical & Engineering (EM&E), according to a statement sent by the company to the Spanish National Securities Market Commission (CNMV).
In this context, the company has decided to reduce the number of committee members from four to three, which will now only be made up of independent members Belén Amatriain, who chairs the committee, Eva María Fernández and Josep Oriol Piña.
The creation of this committee, a decision that the company already announced on 10 July, is due to the fact that Indra’s chairman since mid-January, Ángel Escribano, is co-owner of EM&E alongside his brother and EM&E chairman, Javier Escribano.
EM&E also owns 14.3% of Indra and is the company’s second-largest shareholder, behind only the government, which owns 28% of the capital through the State Industrial Holdings Company (SEPI).
In addition, Javier Escribano sits on the company’s board of directors representing EM&E.
