Mario Armero, former Anfac, dies at 68

Mario Armero, a key figure in the Spanish automotive industry, passed away today in Madrid at the age of 68, due to a tumor detected before the summer. For nearly a decade, he led the national association of automobile manufacturers, Anfac, coinciding with the transition of major brands towards electrification.

The law graduate from the Complutense University of Madrid held several top-level positions, both in manufacturing companies like General Electric, but he was always linked to financial corporations, where he pursued his career after his time with the automotive employers' association.

The last of these was at the French alternative fund Tikehau Capital, where he was the president for the Portuguese and Spanish markets and managed assets worth more than 40 billion euros.

Additionally, Armero also participated in several boards of directors, such as those of the Institute of Automotive Studies, INDO, Bankinter Consumer Finance, and he was previously on the board of Gas Natural Fenosa, representing the American fund Global Infrastructure Partners (GIP).

The executive became the executive vice president of Anfac in January 2020, a position created with his arrival in 2011 so that the organization would have a president from a manufacturer and another responsible for daily operations.

In 2020, Begoña Cristeto, former Secretary General of Industry and SMEs during the Government of Mariano Rajoy, was considered, but the incompatibility law prevented the candidate, who went on to handle automotive industry-related issues at KPMG.