SEPI Sociedad Estatal de Participaciones Industriales

Sociedad Estatal de Participaciones Industriales (SEPI) is a state entity which was established by 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 Chairwoman 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 Chairwoman, one Vice President and a maximum of 14 members of the Board. Besides, it has a Secretary, nominated by the Chairwoman, 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 Chairwoman 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 Chairwoman when the Chairmanship is vacant, or when the Chairwoman 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 Chairwoman and by its Vice President, as well as by the company’s senior managers which are appointed by the Chairwoman.


Ms. Belén Gualda González

Vice President

Mr. Bartolomé Lora Toro 


Ms. María Amparo Valcarce García - Deputy Secretary of Defense. Ministry of Defense 

Mr. Jesús Gascón Catalán - Deputy Secretary of Finance. Ministry of Finance

Ms. Rebeca Mariola Torró Soler - Deputy Secretary for Industry. Ministry of Industry and Tourism 

Ms. Sara Aagesen Muñoz - Deputy Secretary for Energy. Ministry for the Ecological Transition and the Demographic Challenge

Mr. Israel Arroyo Martínez - Deputy Secretary for Economics, Trade and Enterprise. Ministry for Economics, Trade and Enterprise 

Ms. Lidia Sánchez Milán - Undersecretary of Finance. Ministry of Finance 

Mr. Carlos Moreno Medina - Chief of Staff of the First Vice President and Minister of Finance

Mr. Jesús Manuel Gómez García - Undersecretary for Transportation and Sustainable Mobility. Ministry for Transportation and Sustainable Mobility

Mr. José Ramón del Prado Cortés - Undersecretary of Employment and Social Economy. Ministry of Employment and Social Economy 

Mr. Ernesto Abati García-Manso - Undersecretary of Agriculture, Fishing and Food. Ministry of Agriculture, Fishing and Food 

Mr. Alberto Herrera Rodríguez - Undersecretary of the Presidency, Justice, and Relations with the Parliament. Ministry of the Presidency, Justice, Relations with the Parliament 

Ms. Amparo López Senovilla - Deputy Secretary for Trade. Ministry or Economics, Trade and Enterprise 

Mr. Juan Tejedor Carnero - Director-General of Patrimonio del Estado. Ministry of Finance 

Secretary of the Board  

Mr. Javier Morales Abad


Information updated as of May 29th, 2024