Ángel Escribano, president of Indra, remains in his position, despite the pressures he has received in recent weeks from the Government. Last Friday, without going any further, Moncloa called him to order to ask him to hand over the command of Indra, as a consequence -this has been the argument used-, that his position in this company was incompatible with the purchase of Escribano Mechanical & Engineering (EM&E), due to a conflict of interest, as the CNMC already pointed out. An operation that Ángel Escribano has finally renounced for the moment, but without moving from the main executive position of the Indra Group and holding his ground against Pedro Sánchez's Government.
After a long council, and with SEPI deflated in its interest in dismissing Ángel Escribano, the control of the majority of shareholders has opted for the continuity of Ángel Escribano as president.
Currently, the shareholding structure of Indra Group is distributed as follows: SEPI (State Industrial Holdings Company) with 28%; Escribano with 14.30%; other shareholders with 33.22%; T. Rowe Price, with 3.71%; SAPA, with 7.94%; Amber Capital, with 7.24%; David Shaw, with 3.51%; Millenium, with 1.06% and, Davidson Kemper, with 1.01%.
On its website, Indra Group states that it has no knowledge of the existence of any pact or agreement between its shareholders and, it refers to the data offered in this section which collects the information provided by the shareholders to the CNMV, and regarding the shareholders who have representation on the Board of Directors, those who have notified the Company are listed.
The role of the Mozos in Indra and their salary
This Wednesday, the newspaper El Economista, in information signed by Javier Romera and Nacho Martín, points out that Indra has proposed a 55% increase in the remuneration of its CEO, José Vicente de los Mozos, up to 4.2 million euros starting next year, conditioned on his continuity in the position.
The proposal contemplates raising the fixed salary from 660,000 euros to one million, in addition to a variable remuneration that could place the total at a maximum of 4.92 million, compared to the current 3.2 million. The company justifies this adjustment by the need to align salary conditions with the market in the 2027-2029 period.
This move occurs in a context of confrontation in the shareholding between the SEPI, main shareholder with 28%, and president Ángel Escribano, who owns 14% through Escribano Mechanical & Engineering. The continuity of De los Mozos -this newspaper states- is linked to this conflict, since SEPI has asked him to remain in view of a possible change in the presidency.
Awaiting the board of directors' meeting -elEconomista stated in the early hours of the day-, Escribano maintains majority support against the public holding's position. Despite pressure for his resignation, the president has the support of the majority of directors and major investors, which could lead to an eventual extraordinary general meeting if his dismissal were attempted.
From good harmony to betrayal
A few weeks ago, Demócrata interviewed Ángel Escribano, who highlighted very positively the relationship with José Vicente de los Mozos, CEO of the company. According to Escribano, both are totally aligned with the company's project, which has facilitated decision-making and has allowed for a close professional relationship, based on trust and personal friendship.
Escribano then emphasized, that the collaboration with de los Mozos has been simple thanks to his previous experience working with his brother, which taught him not to make decisions alone. He also highlighted that De los Mozos brings key knowledge of the company's day-to-day operations and that his closeness allows for maintaining good harmony within the team, which, in turn, is reflected in a more transversal and efficient operation of the business units.
Nevertheless, this figure is now in the spotlight, questioned for its closeness to the Government, a gesture that, according to how it could be interpreted from Escribano's perspective, could border on treason.