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06/06/2019

AVANGRID (NYSE: AGR) Announces Leadership Appointments

AVANGRID (NYSE: AGR) Announces Leadership Appointments

AVANGRID (NYSE: AGR) ANNOUNCES LEADERSHIP APPOINTMENTS

Kump appointed to newly created role of Deputy CEO & President

ORANGE, CT – June 6, 2019 – Today AVANGRID, Inc. (NYSE: AGR), a diversified clean energy company, announced the appointment of Robert Kump, currently President & CEO of Avangrid Networks, to the newly created role of Deputy CEO & President.  

James P. Torgerson, who became CEO of AVANGRID when the company was created by the merger of UIL and Iberdrola in 2015, will remain CEO.  Kump will report to Torgerson.

Kump has over three decades of experience in the energy sector, having held a number of executive positions at Energy East, Iberdrola USA and now AVANGRID.  Kump was appointed to lead the company’s Networks business in 2015, overseeing eight electric and gas utilities, including The Berkshire Gas Company, Central Maine Power Company, Connecticut Natural Gas Corporation, New York State Electric & Gas Corporation, Rochester Gas and Electric Corporation, The Southern Connecticut Gas Company and The United Illuminating Company. 

Kump will be succeeded by Anthony Marone as President & CEO of AVANGRID Networks.  Currently, Marone is President & CEO of Networks’ subsidiary UIL Holding and the company’s utilities in Massachusetts and Connecticut including The Berkshire Gas Company, Connecticut Natural Gas Corporation, The Southern Connecticut Gas Company and The United Illuminating Company and he is responsible for regulatory, asset management and planning for AVANGRID Networks. Marone has held leadership positions in Engineering, Marketing and Customer Service since joining UIL in 1987. 

In addition to these appointments, the company is creating a new role of Chief Operations Officer of AVANGRID Networks, reporting to Marone, and responsible for the supervision, management and oversight of the day-to-day operations of the Networks business. A search is underway to identify the best candidate to fill this new position.

“These changes will enable us to continue to successfully execute on our strategic plan and look critically at how we can accelerate our path to lead the industry in sustainability, innovation and performance with a great workplace culture, and a reputation for delivering clean, reliable and affordable energy for our customers,” said Torgerson. “Bob and I have developed a strong working relationship over the last four years and we share a vision to transform AVANGRID’s business to deliver our ambition to be a top tier clean energy company in the US,” Torgerson continued.  “I have worked with Tony for many years and am very confident in his leadership as he takes the reins from Bob to oversee our Networks business.”

“AVANGRID has a long runway for growth.  It is already leading the clean energy transformation in the US,” said Ignacio Galán, Chairman of the Board.  “Moving forward with a focus on innovation and efficiencies, as well as achieving positive outcomes in ongoing regulatory proceedings, requires continued assessment to ensure that the organization of the AVANGRID Group optimizes the strengths of the Group’s experienced management team and provides effective and efficient supervision and decision-making.”

“Under Jim’s leadership, AVANGRID has achieved a quick and successful integration and has engaged in a strategy to become a leading clean energy company. With Bob’s appointment, I know together they will continue along the same path.  With his extensive experience, I am also pleased that Tony will be taking the helm of AVANGRID Networks,” continued Galán.

 

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About Avangrid

About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $44 billion in assets and operations in 24 U.S. states, Avangrid has two primary lines of business: networks and renewables. Through its networks business, Avangrid owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Through its renewables business, Avangrid owns and operates a portfolio of renewable energy generation facilities across the United States. Avangrid employs approximately 8,000 people and has been recognized by JUST Capital in 2021, 2022, 2023 and 2024 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2024, Avangrid ranked first among utilities and 12 overall. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2024 for the sixth consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.

 

About Iberdrola: Iberdrola is one of the world's biggest energy companies and a leader in renewables, spearheading the energy transition to a low carbon economy. The group supplies energy to almost 100 million people in dozens of countries. With a focus on renewable energy, smart networks and smart solutions for customers, Iberdrola’s main markets include Europe (Spain, the United Kingdom, Portugal, France, Germany, Italy and Greece), the United States, Brazil, Mexico and Australia. The company is also present in growth markets such as Japan, Taiwan, Ireland, Sweden and Poland, among others.

With a workforce of nearly 40,000 and assets in excess of €141.7 billion, across the world, Iberdrola helps to support 400,000 jobs across its supply chain, with annual procurement of €12.2 billion. A benchmark in the fight against climate change, Iberdrola has invested more than €130 billion over the past two decades to help build a sustainable energy model, based on sound environmental, social and governance (ESG) principles.

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