By Christopher Bjork
MADRID--Spanish information technology company Indra Sistemas SA
announced the resignation Thursday of its long-standing executive
chairman, Javier Monzón, after the board of directors stripped him
of his executive duties.
Fernando Abril-Martorell, a former executive of several large
Spanish companies including Telefónica SA, was named to replace
him.
The move followed a period of sweeping changes in the
shareholder structure of the company, whose products include air
traffic control systems, flight simulators and cybersecurity
technology.
Spanish telecommunications giant Telefónica SA disclosed
Wednesday that it had bought a 3% stake in Indra and held an option
for an additional 3%. That deal was preceded by the Spanish state's
2013 purchase of 20% of Indra.
Mr. Monzón was one of Spain's longest-serving top executives,
having led Indra for 22 years.
Mr. Abril-Martorell last served as chief executive of media
group Promotora de Informaciones SA, publisher of the newspaper El
País. Before that, he led the Spanish office of investment bank
Credit Suisse.
Write to Christopher Bjork at christopher.bjork@wsj.com
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