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 Chairwoman also chairs the Board of Directors. Her appointment is made by the Government through a Royal Decree, at the proposal of the Minister of Finance and Public Service.
- 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 Service; Energy, Tourism, and the Digital Agenda; Economics, Industry and Competitiveness; Public Works; Employment and Social Security; Agriculture and Fishing, Food and the Environment; and Presidency and for Territorial Administrations.
- 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.