Abril-Martorell takes over from Javier Monzón as head of Indra

The entry of Telefónica into the shareholding of Indra has meant its departure from the presidency of the technology company after twenty-two years in the position.

After the entry this week of Telefónica into the capital of Indra, the movements in the management leadership have not been long in coming. Telefónica acquired 3.16% of the Spanish technology company valued at 39.61 million euros at the close of trading last Tuesday. At the same time, the telecom acquired an options package equivalent to another 3.01% of Indra.

With the entry of Telefónica, Indra shields the Spanishness of its shareholders after the departure of Bankia. For its part, Telefónica takes another step to establish itself in the technology sector and cutting-edge solutions.

In this way, the multinational chaired by César Alierta will have 6.17% of Indra, strengthening the Spanish hard core of the company together with SEPI, (20.14%) and Corporación Alba (11.32%).

Telefónica would not even rule out increasing its participation in the technology company in the future in order to become its main shareholder. To do this, it could acquire from SEPI, the state holding company dependent on the Ministry of Finance, 8% of its current package with 20% of the shares. In this way, Telefónica could reach 14% compared to the Industrial Participation Company, which would reduce its presence to 12%.

This operation has meant the departure of Javier Monzón from the presidency of Indra after more than two decades in the position. He will be replaced by Fernando Abril-Martorell, a trusted man of Telefónica, since he was CEO in the first stage of Alierta at the head of the operator, and was later CEO of PRISA until October 2014.