Scribe Angel has been appointed new executive president of Indra Group after the departure of Marc Murtra to the presidency of Telephonein a truly heart-stopping weekend for the management bodies of both listed companies. If on Saturday the Board of Directors of Telefónica accepted the resignation (forced by the Government) of José María Álvarez-Pallete; and announced the appointment of Marc Murtrathis Sunday the Board of Indra has approved the appointment of Escribano to succeed him, as confirmed in a relevant fact sent to the National Securities Market Commission (CNMV) late in the afternoon. «Today an extraordinary session of the board of directors of Indra was held, in which Marc Murtra formally presented his resignation as director and executive president of the company and president of the Executive Committee and the Strategy Committee of Indra Group, after having been appointed, yesterday, director and Executive Chairman of Telefónica», the statement explained. After valuing «very positively» the work of Murtra, the Indra Council has approved «the appointment by co-option of Ángel Escribano as a director of the company.» In addition, «in order to guarantee an adequate replacement in the executive presidency of the company», the Board of Indra has appointed «Ángel Escribano executive president«; and has conferred upon him «the same executive powers in the corporate and institutional sphere that Marc Murtra had, in addition to those related to his position as president of the board of directors, which will be exercised in coordination with the operational and business leadership of the CEO, José Vicente de los Mozos«. In addition, Escribano will maintain «the remuneration conditions of the previous executive president and the granting of sufficient powers to exercise the aforementioned executive powers.» Indra has added that «the aforementioned agreements They guarantee continuity in the execution of the 2024-2026 Strategic Plan and they have the support of the main shareholders of the company.» In this sense, the State Company of Industrial Participations (SEPI), controlled by the Government, is the largest shareholder of Indra, with the 28% of capital, and the company Mechanical and Engineering Clerk (EM&E)owned by Ángel Escribano and his brother, is the largest private shareholder, with the 14%.
PROFILE OF ANGEL SCRIBE
Ángel Escribano founded, together with his father and brother, the company Mechanized Notary in 1989. Escribano was until now the president of EM&E Group. «Together with his brother Javier, he is the architect of the conversion of a company that has gone from manufacturing mechanical parts under third party specifications to design, develop and manufacture complex defense systemssuch as remote control weapons stations, electro-optical systems and guided ammunition kits,» explained Indra. Ángel Escribano «He has worked in almost all operational areas of this companycompleting his training in different departments of the same, from the operation of CNC machines, to the commercial management of the company, through different operations planning and quality management tasks. He is part of the boards of directors of the companies TESS DEFENCE and SMS,» the company concluded.
MAIN CHALLENGES
Among the challenges that Escribano must face will be to position the company as a benchmark in the defense and security sectorswhich currently represent a third of its activity, as well as in the spatial scopean area where its presence is limited. According to the company's Strategic Plan, it is expected to reach a turnover of 1,000 million euros in the space sector by 2030. To advance this transformation, Indra is evaluating several short-term strategic operations. One of them is the possible acquisition of Hispasatcurrently owned by Redeiathe energy group owned by the State. However, since Redeia bought Hispasat for around 1 billion euros, the value of satellite companies has fallen drastically due to the unexpected competition from Starlinkthe low orbit satellite network powered by SpaceXElon Musk's company. On the other hand, decisions are being considered about two key assets of Minsaitthe group's information technology division: the selling your payments businessone of its most valuable areas, or even the Total divestment in its IT division. After months of speculation, it is expected that the next steps in relation to these assets will be defined in 2025. Likewise, Escribano will have to resolve the accumulated delays in the 8×8 armored programone of the main projects of the Ministry of Defense. To accelerate deliveries, in October Indra assumed the majority of the capital of Tessthe consortium in charge of the program, where they also participate Santa Bárbara, Sapa and Escribano Mechanical and Engineering.
