In Catalonia and across Spain, the Spanish government has denied any involvement in the departure of Ángel Escribano as president of Indra, the defence company in which the state holds a 28% stake.
The state’s shareholding makes it Indra’s largest shareholder. The company has been through a year of significant leadership changes, which has added to scrutiny of its governance and direction.
Indra has also recently faced a failed merger attempt. The company had explored a possible fusion with Escribano Mechanical & Engineering (EM&E Group), but the deal did not go ahead.
The latest change at the top leaves attention on who will replace Escribano and how the group will be led next. That will matter for investors, the defence sector and public oversight, given the state’s position in the company.
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