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Indra elects an automobile executive as CEO for the new ‘era of defense’

Date: March 3, 2024 Time: 19:06:04

white smoke Indra completes the search process for a new CEO for this new phase with much more focus on the defense area. And he does it with an executive from the automotive sector, who has developed his entire professional career at the Renault Group. This is José Vicente de los Mozos, who will replace Ignacio Mataix in the post. The council has given the green light in a session that has lasted throughout the afternoon of this Thursday to the appointment in order to formalize it and ratify it at a general meeting of shareholders that should take place at the end of next month. In the same session, the independent director Axel Arendt, who joined the last batch after the government crisis last year, presented its issue with immediate effect.

De los Mozos (Sao Paulo, 1962) is a historical motor director. For more than forty years he has passed through all levels of the Renault group, ever since he became global head of logistics and manufacturing. He has been one of the most recognizable voices in the Spanish industry, serving as president of car manufacturers for years. He has no experience in the defense sector. He will now direct the designs of a company in which the weight of this sector will be especially relevant. The State Company for Industrial Participations (Sepi) had initially considered a profile closely linked to this area or, at least, with a specific trajectory in it.

For the position, not only has the name of the former Renault director been on the table of the Appointments and Remuneration Committee -advised by the specialized consultant Egon Zehnder-. One of those who has sounded the most strongly has been Miguel Ángel Panduro, current CEO of Hispasat. At the same age as De los Mozos, he did have relevant experience, since he was CEO of Isdefé and, later, of Hisdesat. He has not been the only one. Luis Abril, head of Minsait, also ran for the position. He has used another name such as Tobías Martínez, still CEO of Cellnex until next June.

The appointment, which has been studied by the board in a session that has lasted throughout the afternoon on Thursday, has required a significant majority of the company’s board of directors. In the bylaws it is contemplated that for this designation the favorable vote of the reinforced majority is needed. According to the Capital Companies Law, it would be two thirds of the seats that are part of the body. In this case, there are a total of 14 positions occupied -after the arrival of the third from the State Company of Industrial Participations-.

With this appointment, the company seeks to settle all corporate governance fronts that started two years ago after the dismissal of Fernando Abril-Martorell. The appointment of a new CEO and the consolidation of a reformed board of directors with equal independents. The four new incorporations that became effective months ago were more focused on the technological area and not so much on defense: Belén Amatriain (former director of Telefónica), Virginia Arce (technology partner of PwC), Axel Arendt (advisor of ITP Aero ), Coloma Armero (former partner of Uría Menéndez) and Olga San Jacinto (former director of Google Spain).

The designation implies the departure of Mataix from day to day. The executive will leave automatically, as was reflected in the agreement between both parties for his departure, approved in council last March. Of course, he will improve for two more years as a strategic advisor to the external council. This agreement, which was monitored by the National Securities Market Commission (CNMV) in the framework of the investigation by the Sepi, Sapa and Amber alliance of the June 2022 meeting, would contemplate not only the payment of compensation, but also also a contract for the provision of services during those two years.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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