The Digester
finance

Ángel Escribano to resign as Indra chairman after government pressure

Ángel Escribano has called an urgent Indra board meeting where he is expected to resign after sustained pressure from the Government and SEPI, a move that rattled the stock and surprised some of his backers.

Apr 1st 2026 · Spain

Insights

  • Escribano has convened an extraordinary board meeting expected to address his resignation and replacement.
  • He is stepping down after weeks of pressure from the Spanish Government and the state investor SEPI.
  • Indra shares swung from a rise of over 2% to a fall of about 2.8% on the news, with the stock down more than 20% in a month.
  • Funds that had supported Escribano said they were surprised because they still backed him.
  • Sources say the Government secured a non aggression pact with Escribano and had threatened to withhold public contracts affecting his EM&E business.

Sources