Banc Sabadell | The government has reportedly asked the State Company for Industrial Investments (SEPI), which controls 28% of Indra (IDR) and has three directors, to propose, with immediate effect (there is even talk of this very Friday and before the company’s next board meeting on 25 March), the removal of Ángel Escribano as chairman of Indra, according to El Confidencial. Escribano holds a 14.3% stake in Indra and has two directors on the board.
We recall that Ángel Escribano was appointed Chairman of Indra in January 2025, replacing Marc Mutra. The reason is reportedly the conflict of interest that would arise from Indra’s merger with Escribano’s company, EM&E, although the report makes no mention of whether this potential transaction would go ahead.
Assessment: Negative news that introduces noise and uncertainty. Furthermore, Ángel Escribano, in addition to being one of Indra’s main shareholders, is a figure with experience in the defence sector, Indra’s main growth driver and catalyst.
