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02/16/2020

David Flanagan Named Executive Chairman of CMP

David Flanagan Named Executive Chairman of CMP


David Flanagan Named Executive Chairman of CMP

Mission of Former CEO – Turn CMP Around

AUGUSTA, Maine — February 19, 2020 — David T. Flanagan has been appointed as Executive Chairman of the Board of Directors of Central Maine Power, its parent firm AVANGRID, Inc. (NYSE: AGR) announced today. In this role, Flanagan will focus on restoring quality customer service to its Maine customers.

"While the company faces challenging times, I will work with the dedicated employees of CMP to return to providing high quality, transparent, and reliable service for our customers; and to earn back the trust of Maine people," said Flanagan.

An introductory press conference was scheduled for Wednesday morning, February 19th. 

David Flanagan is a Maine native. He was the Chief Executive Officer (CEO) of CMP from 1994 to 2000. During that time, he led a company turnaround, and as a result, CMP’s public favorability rose from 40% to over 90%. Flanagan is best known from those years for his public leadership in restoring power during the Ice Storm of 1998. Besides CMP in the 1990s, David helped rejuvenate Preservation Management Inc., a national affordable housing management company, and to restructure the University of Southern Maine.

Tony Marone, the CEO of parent company AVANGRID Networks, said:

"David Flanagan is skilled in turning organizations around. There is no one better suited, by skills, knowledge and temperament, to restore the quality of services and provide leadership in a new century for this historic Maine company."

Within the CMP business structure, Flanagan will report directly to Tony Marone at AVANGRID Networks. Doug Herling, the current President and CEO of CMP, will report to Flanagan.

Flanagan started on February 18.


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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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