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Change in Indra’s leadership: the CEO and head of Minsait, Cristina Ruiz, leaves | companies

New changes in Indra’s management leadership. The board of directors of the Spanish technology yesterday approved the departure of the company of Cristina Ruiz, CEO, a position that Ignacio Mataix also holds, amid the existing disputes in the direction. The executive, who resigned for personal reasons, has recently been responsible for Minsait, the group’s information technology division. Now, Mataix remains as the sole CEO.

In turn, according to a relevant fact sent to the CNMV, the company has promoted the member of its management committee, Luis Abril, who will assume the direction of the aforementioned Minsait and will become an executive director. April, however, will not hold the position of CEO.

In the statement to the regulator, Indra points out that at its meeting held yesterday, the board of directors agreed to “extinguish by mutual agreement” with the CEO, Cristina Ruiz Ortega, “the contract for the provision of executive services that linked the parties and, as a consequence of the foregoing, accept her resignation as director”. The board “recorded the valuable contribution and leadership” of Cristina Ruiz and “has highly valued her management in the IT business area.”

Likewise, the board agreed to “appoint by co-option Luis Abril Mazuelas executive director and General Director of IT at Indra, and head of Indra Soluciones Tecnologías de la Información, SLU (Minsait)”. Minsait “will maintain its management autonomy.”

The executive, who joined Indra in 2014, is currently responsible for the Energy, Industry, Consumption and Business Management Solutions area. For her part, Cristina Ruiz, who joined Indra in 2011, was appointed CEO of the company in May of last year, after the last major reorganization of the management leadership.

Then, the company appointed Marc Murtra as the new non-executive chairman of the board of directors, after the departure of Fernando Abril Martorell. Murtra had the support of the State Industrial Participation Company (SEPI), Indra’s main shareholder with 18.7% of the capital, and which intends to increase its participation.

In addition, the company then approved to delegate in favor of the executive directors Ignacio Mataix and Cristina Ruiz, respectively responsible for the Transport and Defense and Minsait divisions, all the delegable powers of the board, appointing them joint and several CEOs.

The company then stated that its board had verified that the permanence of the other two executive directors, who were already in charge, in their respective responsibilities, of the company’s operations, as well as the corporate general director, allowed to guarantee the continuity of the management at the highest level, executing the 2021-2023 Strategic Plan.

shareholders meeting

Now this status quo of the semi-public company appears to be over. In the market it is pointed out that Murtra will assume executive powers from the next shareholders’ meeting, scheduled for June 23.

Changes in the company have been happening in recent times. At the beginning of this month of April, Indra informed the CNMV of the departure from the company of its current financial director and corporate general director, Javier Lázaro. The executive, who will leave his post at the end of June to facilitate the transfer and succession of his responsibilities, was a person close to the aforementioned April Martorell.

The vice president of the board, Alberto Terol, whose term ends on the board, could also leave the company. At the end of March, Indra appointed Enrique de Leyva as vice president of the board from the aforementioned meeting.

SEPI gains presence in the capital

The changes in Indra’s management are coinciding with an expansion of the state presence in the capital. In February, the Council of Ministers authorized the acquisition of company shares up to a maximum of 28% of its capital. The execution of the operation is in charge of SEPI.

The Government stated then that the transaction responded to the importance of reinforcing the participation of the State as a reference shareholder in a strategic company for the country, especially in the field of security and defense. Among other projects, Indra has been designated as the industrial coordinator of the Spanish participation in the European project Future Combat Air System (FCAS).

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