The CNMV sees "worrying" the dismissal of directors in Indra, which collapses on the stock market
The company's shares fall more than 15% after the government's maneuver to take control
Investors have not liked that the Government has taken control of Indra by surprise and the company's shares have plummeted more than 15%. Nor does this move seem good to the National Securities Market Commission (CNMV) and its president, Rodrigo Buenaventura, has described the decision of the State Society of Industrial Participations (SEPI), SAPA and Amber as "striking" and "worrying". to dismiss five independent directors of Indra and thus favor the control of the company by the public holding company.
This was stated this Friday at the XXXIX APIE Seminar 'Sustainability and digitization: the levers of recovery', after SEPI, SAPA Placencia and Amber Capital turned Indra's board upside down after appointing Jokin Aperribay as proprietary director by the Basque group and promote the dismissal of four independent directors at yesterday's shareholders' meeting.
Buenaventura has recalled that the companies are sovereign for the dismissal or appointment of directors and the shareholders' meetings have the capacity to decide on these matters, although he has stressed that the principle of sovereignty and democratic decision in the board is not the only one that applies to the best corporate governance practices, but another series of elements and counterweights are needed, such as the presence of independent directors, whose figure is "essential" insofar as they look after the corporate interest and that of the minority shareholders.
Indra's shares plummeted more than 15% around 9:30 a.m. after the Sociedad Estatal de Participaciones Industriales (SEPI), SAPA Placencia and Amber Capital turned Indra's board upside down after appointing Jokin Aperribay as proprietary director for the Basque group and promote the dismissal of four independent directors at yesterday's shareholders' meeting.
Specifically, the company's titles, which began the session with a drop of more than 7%, were down 13.82% at 9:25 am, until trading at a price of 8.73 euros.