Madrid. According to informed sources, Ángel Escribano, president of Indra, is expected to resign from his position this Wednesday. Indra will hold an extraordinary meeting today, Wednesday, at 5:00 PM. The resignation comes after the decision of brothers Ángel and Javier Escribano, owners of EM&E, to withdraw from the negotiation between their company and Indra, and after the SEPI demanded that they resolve the conflict of interest present in the process. The possibility of a change in the company’s presidency was a topic prior to the board meeting on 25th March, at which the president remained in his position. On 25th March, two board meetings took place: one extraordinary, convened to finalise the details of the operation with EM&E, following the resignation letter regarding the operation with Indra that Javier Escribano sent to the board members; and another ordinary, where the president’s resignation was not on the agenda. At the conclusion of the meetings, no information was disclosed, except that the gatherings had been tense and that Escribano had not been replaced. Indra did not communicate any issues to the CNMV. Before the board meeting commenced, it was already known that the SEPI did not intend to request his replacement. Escribano owns more than 14% of Indra, while the SEPI is the majority shareholder with approximately 30%.
Ángel Escribano plans to resign this afternoon as president of Indra at an extraordinary board meeting.
