Friday, June 9, 2023

Matix earned 1.55 million, 6.88% more than Indra as CEO

Indra’s CEO, Ignacio Matix, received a remuneration of 1.5 million euros in 2022, up 6.88% from the previous year, while the technology company’s president, Marc Murtagh, earned 595,000 euros, 73% more, due to the fact That this is his first term in full financial year. The firm’s other executive director and general director of IT, Luis Abril, has received 894,000 euros when he took up the position following the departure of Cristina Ruiz last April, according to a remuneration report published this Wednesday at the National Market Commission. Securities (CNMV).

The report details the compensation that was announced when two top executives of the technology firm were sacked from office. Cristina Ruiz was appointed CEO of Indra’s digital transformation and information technology consulting sector in June 2021 and was fired on April 21, 2022. Upon leaving the company “by mutual agreement”, compensation of 4 million euros. The figure corresponds to his salary up to April, 1.8 million euros in compensation and 16,000 euros in earned leave plus 1.8 million euros for his non-compete clause.

Similarly, the firm’s former executive chairman, Fernando Abril-Martorell, who left the company in May 2021 and was replaced by Murtra on SEPI’s proposal, has also received 1.16 million euros in 2022 as compensation. Settlement. In 2021, the executive has already received 2.7 million euros, including a fixed salary (315,000 euros) and a variable salary (367,000 euros), compensation of 775,000 euros for not receiving three months’ notice of dismissal, and another 1,189 million Euro included. for other concepts.

end of matix

Indra’s board of directors approved the dismissal of Ignacio Matix on 6 March, although it was agreed by “mutual agreement” with the CEO that he would remain in office until a replacement was chosen by an independent consultant. The decision would mean that, once he departs, Matix would receive compensation, which Indra did not elaborate on in its 2022 report.

In short, the president of the National Securities Market Commission (CNMV), Rodrigo Buenaventura, indicated this Wednesday that the stock market supervisory body is “monitoring” Matix’s departure as CEO of the semi-public company following the merger of State Co. Will do de Participaciones Industriales (Sepi), the company Sapa and the investment fund Amber Capital, during a June 2022 meeting, which led to a complete turmoil on the board, with most of the independent representatives subsequently ceasing to act or resign Gave.

However, Buenaventura reaffirmed that the maneuver did not violate regulations and there was no indication of a concerted action among shareholders, something that if proven would have forced the agency to demand a takeover bid. However, despite the fact that everything was done in accordance with the current legislation, the president of the organization recalls that what happened at the assembly of the technology group “was far from what Ibex company expected.” For this reason, he has proposed a series of measures to prevent cases like Indra’s from happening again.

Mataix’s salary in 2022 is made up of a fixed payment of 644,000 euros and short-term variable remuneration of another 744,000 euros. In addition, it has got an option to acquire 72,455 shares of the firm on a deferred basis after meeting 114% of the target set for the year.

In addition, Matix has received a contribution of 424,000 euros and Abril 73,000 euros in his long-term savings plan. The company qualifies in the report submitted to the CNMV that the plan is not equivalent to a pension plan and that the executive director is entitled to receive it only at the age of 62, which is why Cristina Ruiz resigned after leaving the company. given.

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