Iberdrola appoints chief of US business as new CEO
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The logo of Spanish utility company Iberdrola is seen on its headquarters in Bilbao, Spain, October 25, 2022. REUTERS/Vincent West/File Photo
MADRID (Reuters) -Spain's Iberdrola has appointed the chief of its U.S. subsidiary Avangrid, Pedro Azagra Blazquez, as new group chief executive, replacing Armando Martinez Martinez, who resigned as CEO, the power utility company said in a statement on Tuesday.
The change comes as Europe's largest utility has expanded its focus on the United States, which it sees as a key market for its renewables operations and grid business.
Azagra Blazquez held different positions at the company, including as strategy and M&A chief.
He will now be second in command at the group behind Executive Chairman Ignacio Sanchez Galan, who has led the company for roughly two decades.
Martinez Martinez had been named CEO in 2022. Iberdrola did not disclose the reasons behind his resignation in the statement, and its spokespeople did not immediately reply to a request for comment.
(Reporting by Pietro Lombardi, editing by Andrei Khalip)
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