Published by Global Banking & Finance Review®
Posted on April 1, 2026
1 min readLast updated: April 1, 2026
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Ángel Escribano, executive chairman of Spanish defense firm Indra, resigned following his company EM&E’s withdrawal from a proposed acquisition due to a conflict-of‑interest concern, pressured by the state investor SEPI.
April 1 (Reuters) - The chairman of Spanish defence firm Indra, Angel Escribano, has submitted his resignation from his position as both executive chairman and director, the company said in a statement on Wednesday.
This comes two weeks after Escribano's company, Escribano Mechanical and Engineering (EM&E), withdrew from a potential acquisition by Indra due to a conflict of interest.
(Reporting by Gemma Guasch, editing by Andrei Khalip)
Indra's chairman, Angel Escribano, resigned after a failed acquisition involving his own company due to a conflict of interest.
Angel Escribano is the former executive chairman and director of Spanish defence firm Indra.
The company involved was Escribano Mechanical and Engineering (EM&E), owned by Angel Escribano.
Escribano Mechanical and Engineering withdrew from the acquisition two weeks before the resignation was announced.
The deal was cancelled due to a conflict of interest.
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