Spanish Defence Firm Indra Appoints Renault Strategy Chief as CEO
Indra Appoints New CEO from Renault
Spanish defence company Indra (BME:IDR) has appointed Josep Maria Recasens as chief executive, starting in mid-June. Recasens previously served as chief strategy officer at Renault Group (EURONEXT:RNO).
Recasens' Career
Recasens has been Renault's chief strategy officer since November. Before that, he worked at Renault's electric car division Ampere as COO and then CEO.
Management Changes
Indra, 28% owned by the Spanish government, did not renew the contract of former CEO Jose Vicente de los Mozos. Chairman Angel Escribano resigned a month ago over conflict-of-interest allegations.
Defence Spending Boost
Indra is expected to benefit from a €10.5 billion increase in defence spending announced by the Spanish government last year.
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