Indra reduced CEO Recasens' fixed salary by 23% and cut his pension and severance benefits by 75% after taking office. The compensation overhaul indicates a shift toward stricter cost control and performance‑linked pay at Indra, potentially influencing investor perception and setting a precedent for executive pay in Spain’s tech sector. Indra’s board, new CEO José Luis Recasens, former CEO De los Mozos (as benchmark), advisory firms Willis Towers Watson, EY Abogados and Georgeson. Indra may disclose further details of the revised remuneration package in its upcoming corporate governance report, and shareholders could vote on the changes at the next general meeting. Indra announced a reduction of the new CEO’s annual fixed compensation by 23% compared with his predecessor, alongside a 75% cut to his pension plan and severance package. The adjustments were advised by Willis Towers Watson, EY Abogados and Georgeson, reflecting a broader cost‑containment drive at the Spanish technology and defence group. The move signals tighter executive remuneration policies amid pressure to improve profitability and align pay with performance.
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