In keeping with provision 14th of the Royal Law Decree 5/1995, on June 16th, the managing bodies of Sociedad Estatal de Participaciones Industriales are the Chairman and the Board of Directors.
- SEPI's Chairman is also the Chairman of the Board of Directors. His appointment is made by the Government through a Royal Decree, at the proposal of the Minister of Finance and Public Administrations.
- SEPI's Board of Directors is made up, besides its Chairman, by the Vice President of this state-owned enterprise, who occupies the same post in the Board, by the Secretary of the Board and by the Members, who represent the Ministries of the Defense; Finance and Public Administrations; Industry, Energy and Tourism; Economic Affairs and Competitiveness; Public Works; Employment and Social Security; Agriculture, Food and Environment and Presidency.
- SEPI's Management Board is an executive body, on which the Board of Directors delegates certain activities which are included in the 'Norms which Regulate the Relationships between SEPI and its Enterprises'. The Chairman of the state-owned enterprise appoints the Members of the Management Board and informs the Board of Directors about those appointments.