Sociedad Estatal de Participaciones Industriales (SEPI) is an entity which was established after the coming into force of Law 5/1996, of January 10th, for the setup of certain public-law entities. Currently, SEPI is attached to the Ministry of Finance, and reports to the Minister.

In keeping with section 15 of Law 5/1996, SEPI’s governing bodies are the Chairmanship and the Board of Directors.

Both the Chairman and the Vice President are appointed by the Government, through a Royal Decree, at the nomination of the Minister of Finance. For their part, the members of the Board are appointed by the Minister of Finance.

The Board of Directors is composed by the Chairman, one Vice President and a maximum of 14 members of the Board. 

Currently the members of the Board represent the Ministry of the Presidency, Relations with the Parliament and Equality; Defense; Finance; Public Works; Economy and Companies; Industry, Trade and Tourism; Agriculture, Fisheries, and Food; Ecological Transition; and Employment, Migrations and Social Security. 

Besides, the Board of Directors has a Secretary, nominated by the Chairman, who may be or not a Director.

The Board of Directors is in charge of administrating, directing and managing SEPI. For seeing its main functions, click here.

SEPI’s Chairman is a senior manager in SEPI and is appointed by the Government, through a Royal Decree. For seeing his main functions, click here.
 
SEPI’s Vice President is also a senior manager of the entity and is appointed by the Government through a Royal Decree.

The Vice President replaces the Chairman when the Chairmanship is vacant, or when the Chairman is absent or ill, and he exercises the functions which the Chairman or the Board delegate on him.

The Management Board is the entity’s day-to-day executive body, to which the Board of Directors or its Chairman delegate certain powers. Among them stand out, due to their importance, those contained in the “Norms Regulating the Approval and Overview System for the Activities and Operations of SEPI Group”, which regulate the relationship between the parent company and the other companies which make up the SEPI Group.  

The Management Board is made up by SEPI’s Chairman and by its Vice President, as well as by the company’s senior managers which are appointed by the Chairman.