Overview

• Azagra, a 25‑year Iberdrola veteran, succeeds Armando Martínez as the group's chief executive.
• He is credited as a principal architect of Iberdrola’s push into the United States, including the 2006 Energy East purchase and the 2015 UIL merger that created Avangrid.
• Appointed Avangrid CEO in 2022, Azagra led the unit as it pursued an €8 billion acquisition of PNM that ultimately failed due to regulatory hurdles.
• Iberdrola bought the remaining 18% of Avangrid late last year, took full control of the subsidiary, and delisted it to consolidate the U.S. business.
• Chairman Ignacio Galán last week praised Azagra’s work, calling the U.S. operations very solid and attractive under the group’s new strategic plan.