Indra's shares fall on the stock market due to rumors about its president.

BarcelonaIndra shares led the stock market declines on Tuesday, falling by more than 8%. Analysts attribute this negative trend to reports that the Spanish government, through SEPI, its main shareholder with over 25%, has requested the dismissal of the company's president, Ángel Escribano.

According to The ConfidentialNumerous sources confirm the desire for the dismissal to occur even before the next board meeting, scheduled for March 25. Escribano, along with his brother, owns 14.3% of Indra and has two board members. He has also been the company's chairman since January of last year, when he replaced Marc Murtra, who went on to become chairman of Telefónica. One controversial aspect is the potential conflict of interest arising from the planned merger between Indra and EM&M, the company owned by Escribano and his brother Javier. In any case, the businessman, speaking at a conference organized by the newspaper Expansion,He asserted that he is not involved in this potential merger. "As you all know, I am completely uninvolved in the operation. It's a project that originated before I became president of Indra," he said.

In fact, the National Securities Market Commission (CNMV) forced Indra to publish the protocol to avoid a possible conflict of interest In the event that the company decided to integrate EM&M, this protocol would require Ángel Escribano to be excluded from the operation, which would be led by Indra's CEO, José Vicente de los Mozos.