With Indra's extraordinary meeting held yesterday, the corporate governance crisis that began last summer comes to an end. The company's shareholders, the State Industrial Participation Society (SEPI), with 25.2% of the capital, Fidelity (9.9%), Amber Capital (5.1%), SAPA (5%), among others , supported the appointment of six independent directors and one more representing the main shareholder.
In a lightning extraordinary meeting, which lasted just over half an hour, the board was balanced, with 50% of independent directors. The new batch of directors is made up of Belén Amatriain, Virginia Arce Peralta, Axel Arendt, Coloma Armero Montes, Olga San Jacinto Martínez and Bernardo José Villazán. Likewise, the green light was given for the appointment of Juan Moscoso as proprietary director representing SEPI. All of them had support above 75% of the company's capital.
In his speech, the chairman Marc Murtra defended that the procedure for appointing the new directors has been carried out with "rigorous respect for the company's internal policies and regulations, aligned with the good corporate governance recommendations of listed companies ”. The former independent director Martín and the independent Francisco Javier García have participated in the process.
To set up the new board of directors, advice was obtained from the firm Korn Ferry. And later, the firm Ernst
After the institutional crisis, Indra has tried to make the process as professional and transparent as possible; and giving weight to parity to have the approval of fund advisers, proxy advisors and investors.
The meeting also approved that the company's highest control body, the council, will have 14 seats. And the casting vote of the chairman has been suppressed, with the aim of encouraging the directors who represent the shareholders and the independent ones to agree on the most relevant issues.
With the holding of the meeting, a hard chapter is closed that destabilized the company on the stock market and questioned the rules of good corporate governance. Now, on November 2, the company will present the results of the first nine months of the year.
In addition, the management committee, headed by the CEO Ignacio Mataix, is working intensely on the preparation of a new strategic plan, which could be presented at the beginning of 2023, which is adapted to the changes in the economy and the perspectives of the Spanish government of invest in defense after the war in Ukraine and Russia. There is also a strategy committee on the council headed by Murtra.
