June 17, 2021

The Government elects Marc Murtra to replace Fernando Abril-Martorell in the presidency of Indra



The Government already has a substitute at the head of Indra after the Executive’s decision to dispense with Fernando Abril-Martorell as the head of the technological and defense group, whose main shareholder is the State through the State Company for Industrial Participations (SEPI). The chosen one is the industrial and financial engineer Marc Murtra, who will foreseeably be appointed new president this Monday, according to Cinco Días.

Well seen from La Moncloa for his good connection with the PSC, Marc Murtra, born in Blacburn (United Kingdom) in 1972, was director of the Socialist Joan Clos’s cabinet during his period as Minister of Industry and previously, and also during the Government of José Luis Rodríguez Zapatero, general director of Red.es.

Industrial Engineer from the Higher Technical School of Industrial Engineers of Barcelona and Master in Business Administration and Management from the University of New York, since this year he is a Trustee of the La Caixa Foundation and between 2011 and 2019 he has been a founding partner of CREA Inversión, company specialized in advising on company sales processes and the identification and selection of potential buyers and sales negotiation.

The future president of Indra has also worked in the companies British Nuclear Fuels, Diamond Cluster and the defunct AUNA Telecomunicaciones, where he was responsible for corporate development. In 2003 he was appointed Executive Director of Radio Estel and, later, Manager of Barcelona Televisió.

Indra’s board of directors will meet this Monday to address the April-Martorell dismissal at the helm of the company, whose largest shareholder had already transferred to the rest of the partners their will to promote a change in the presidency and promote new leadership at the helm of the company.

Board postponement

SEPI, which has two members on Indra’s board of directors, the former Minister of Industry Miguel Sebastián and the former Socialist deputy Antonio Cuevas, has communicated its decision on the occasion of the preparatory work for the general shareholders’ meeting, which the company has decided to postpone to June 30 so that there is scope to undertake the relief.

In Indra’s shareholders, other companies with relevant percentages coexist with SEPI, such as Corporación Financiera Alba (9.9%) and Fidelity, which has 9.8%, or Norges Bank, the asset manager of Banco Santander or T Rowe Price Associates with percentages around 3%.

The change comes in full project preparation for European funds and after the company has announced an ambitious project to launch a constellation of 200 satellites for air traffic control together with Enaire, in a project supported by the Government.

Likewise, Indra was studying operations for the acquisition of a company for its digital unit.

Abril-Martorell became Indra’s presidency in 2015 to replace Javier Monzón. Previously, he was CFO and CEO of Telefónica between 2003-2005 and CEO of Credit Suisse Spain and Portugal (2006-2011) and CEO of Prisa (2011-2014). The decision to dismiss him caused the shares of Indra, which is listed on the Ibex, to plummet by almost 8% on Friday.

The company declared net profits of 22 million between January and March, 255.3% more than in the same quarter of the previous year, thus improving all analysts’ expectations, since it also raised its margins to 6.9%.

Likewise, at the end of March, Indra had the largest project portfolio in its history with 5,322 million euros in projects.

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