Spanish stock market Author: Fabric Altea | EFE
Shares fell almost 7% at the opening of the session
Actions of Indra they tumbled nearly 7% and led the decliners IBEX 35 in the early stage of this Tuesday’s session after the unanimous approval of the board of directors, start by mutual agreement with the current chief executive officer, Ignacio Mataix, the succession process in the position, associated with the definition of the company’s next strategic plan for the coming years. At the beginning of the morning, the losses were moderate and at 10:45 a.m. the titles fell by 5.4%, until the exchange at the price of 11.73 euros.
Mataix will continue to perform his current functions, in order to facilitate the process of succession and continuity in management, until the appointment of a new President of the Management Board, for whose selection an independent consultant will be available. He will then continue to serve the company as a strategic advisor to the board of directors for a period of two years.
The board of directors of the company, chaired by Marc Murtra, unanimously evaluated it as “very positive” and wrote down its thanks and congratulations to Ignacio Mataix “for his excellent contribution to the transport and defense business and for his excellent performance as CEO and leader of the company, and in a very special way the results achieved in 2022”, according to the statement that Ana María Sala, secretary of the council, sent to the National Securities Market Commission.
A little less than a year ago, Cristina Ruiz resigned as CEO of Indra TI to the company’s board of directors, leaving Mataix as the company’s sole CEO. With the departure of Cristina Ruiz from Indra, the management model designed after the departure of the previous president, Fernando Abril-Martorell, in May 2021, has been partially dismantled, with two joint CEOs running the business: Cristina Ruiz in the field of information technology (IT) and Ignacio Mataix in Transport and Defense (T&D), the group’s most profitable division.
Subsequently, following the decision of Sociedad Estatal de Participaciones Industriales (SEPI) to increase its stake in the company to 28%, Indra undertook the process of renewing the board of directors and is now working to define a new strategic plan. Predictably, he will emphasize the strengthening of transport and defense businesses, in order to create a ‘Spanish champion’ in this area.
Source: La Vozde Galicia
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
