Finance
Iberdrola appoints chief of US business as new CEO
Published by Global Banking & Finance Review®
Posted on June 24, 2025
1 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on June 24, 2025
1 min readLast updated: January 23, 2026
Iberdrola names Pedro Azagra Blazquez as CEO, emphasizing US renewables growth. He succeeds Armando Martinez Martinez.
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)
Pedro Azagra Blazquez, the chief of Iberdrola's U.S. subsidiary Avangrid, has been appointed as the new group chief executive.
Before his appointment as CEO, Azagra Blazquez held various positions at Iberdrola, including strategy and M&A chief.
He replaced Armando Martinez Martinez, who resigned from the position.
Iberdrola views the U.S. as a key market for its renewables operations and grid business, prompting its leadership changes.
Ignacio Sanchez Galan has led the company for roughly two decades.
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