Press Releases
03/03/2022
AVANGRID Appoints Pedro Azagra CEO
Azagra succeeds Dennis V. Arriola who has decided to step down
ORANGE, Conn. — March 3, 2022 — AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company, announced today the appointment of Pedro Azagra Blázquez as Chief Executive Officer of AVANGRID. Mr. Azagra will succeed Dennis Arriola who has decided to leave the business, effective May 28, 2022. AVANGRID will work towards a smooth transition.
Mr. Azagra has served as a member of the AVANGRID Board of Directors since 2019, and previously served as a member of the Board of Directors from 2014 to 2018. Mr. Azagra also serves as a member of the Executive Committee of the Board of Directors and the Special Committee of the Board of Directors, which is responsible for, among other things, assisting the Board of Directors with oversight of the New England Clean Energy Connect (NECEC) transmission line project.
Mr. Azagra currently serves as the Chief Development Officer for Iberdrola, S.A., where he has executed more than one hundred transactions and led the international expansion of Iberdrola. In addition, Mr. Azagra serves as a member of the board of directors of Neoenergia, S.A., a member of the Iberdrola group of companies listed on the São Paulo Stock Exchange. Mr. Azagra has a degree in Law and Business Administration from the Instituto Católico de Administración y Dirección de Empresas (ICADE) at the Universidad Pontificia de Comillas in Madrid, and an MBA from the University of Chicago.
“Pedro knows AVANGRID and the U.S. market well. I am very confident that under his leadership, we will continue on the path of performance based on ESG+F and a focus on being the leading sustainable energy company in the U.S.,” said Ignacio Galán, Chairman of AVANGRID. “Over the years, Pedro has built strong relationships in the U.S. with key stakeholders in our sector.”
Mr. Azagra has deep familiarity with the AVANGRID businesses and has advised AVANGRID in connection with the merger proceedings with PNM Resources and previously led the $4.7 billion acquisition and integration of Energy East Corporation in 2008 and the $17.9 billion merger and integration of AVANGRID (formerly known as Iberdrola USA) and UIL Holdings in 2015. In these and in other important AVANGRID matters, he has led regulatory strategy and regularly provided testimony on our governance commitments and customer benefits. Formerly, Mr. Azagra led the U.S. businesses of Iberdrola Group and served as Director of Strategy. Mr. Azagra previously served as a member of the board of directors of Energy East, Rochester Gas and Electric, and New York State Electric & Gas.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) is a leading sustainable energy company transitioning America toward a clean and connected future headquartered in Orange, CT, and has a footprint in 24 states with $40 billion in assets. Our primary businesses are Avangrid Networks, which serves 3.3 million electric and natural gas customers in the Northeast, and Avangrid Renewables, the third-largest renewable energy company in the U.S. with a diverse onshore and offshore renewable energy portfolio. With more than 7,000 employees, AVANGRID has built a culture that blends diversity, equity and inclusion guided by the company’s ESG+F framework and the UN Sustainable Development Goals. This has led to recognition by JUST Capital in 2021 and 2022 as one of America’s best corporate citizens and second in utilities for our commitment to the environment and the communities we serve. AVANGRID has been named one of the World’s Most Ethical Companies for three consecutive years by the Ethisphere Institute.
