Ángel Escribano resigned on Wednesday as executive president and board member of Indra, citing government pressures and personal weariness. SEPI, the largest shareholder with 28% of the capital, proposed Ángel Simón as replacement. The board has started the succession process led by Virginia Arce.
Indra's board of directors held an extraordinary meeting on Wednesday and accepted Ángel Escribano's resignation as executive president and director, as reported to the CNMV. Escribano, appointed in January 2025 by SEPI, stated in a letter that "the events of recent weeks have created a situation that, besides personal weariness, threatens to compromise the objectives" of the company.
In the letter, Escribano noted: "I cannot allow my continuity to interfere with the company's stability, its professionals, and investors' confidence." The board thanked him for his "valuable contribution and leadership" over his year-and-a-half tenure, succeeding Marc Murtra.
SEPI proposed Ángel Simón in the same meeting, former CEO of CriteriaCaixa with experience at firms like Agbar and Veolia, as the new president. Independent coordinator Virginia Arce will lead the search alongside the appointments committee.
The resignation follows tensions with the government over a conflict of interest involving EM&E, Escribano's family firm holding 14.3% of Indra, which recently withdrew its merger proposal to form a national defense champion. Indra shares closed up 3.13% at 48.72 euros.
