Spain's Indra appoints Angel Escribano as new chairman

Reuters

01-20

MADRID (Reuters) - Spanish defence and technology company Indra on Sunday said it has appointed Angel Escribano as its new chairman, after former chairman Marc Murtra accepted telecom giant Telefonica's offer to become chief executive.

Indra held an extraordinary board meeting to replace Murtra, who was appointed CEO of Telefonica on Saturday, replacing Jose Maria Alvarez-Pallete following a request from state-owned fund SEPI.

The defence firm's board thanked Murtra for his work in a statement, saying he contributed to "drive and materialise a very relevant transformation of the Indra Group and a solid business project for the coming years."

Angel Escribano is the CEO and owner of privately held Escribano Mechanical & Engineering, which is also part of the military industry. He has been a shareholder of Indra since May 2023.

(Reporting by Ana Cantero in Madrid; Editing by Nia Williams)

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