Pedro Azagra was appointed chief executive officer of Iberdrola in June 2025. He is also a member of the Board of Directors and the Executive Committee.

Mr. Azagra is a professional with a long career within the company, having joined the organization as strategy director in 1997.

He later moved to London, where he served as managing director of development until 2022, being responsible for the Iberdrola Group’s M&A operations and leading its international expansion.

In June 2022, he was appointed chief executive officer of the subholding company Avangrid, Inc., which was listed on the New York Stock Exchange until December 2024, a position he held until June 2025. During this period, he was responsible for developing the financial results and projects of the U.S. subholding company. Previously, he had already overseen the Iberdrola Group’s businesses in the United States, as well as served as a board member of several listed companies, such as Siemens Gamesa Renewable Energy, S.A., and Neoenergia, S.A.

Before joining the Iberdrola team, Mr. Azagra worked in the Investment Banking division of Morgan Stanley in London and Madrid, specializing in mergers, financial advisory, and equity and debt issuances.

He currently combines his role as CEO of Iberdrola with serving as a member of the Board of Directors of the Edison Electric Institute (EEI) and the Board of Directors of Yale New Haven Hospital in Connecticut. He is also part of the Board of the United States Hispanic Chamber of Commerce (USHCC).

Pedro Azagra holds degrees in business administration and management and in law from Comillas Pontificial University – ICADE (Madrid) and has an MBA from the University of Chicago (Graduate School of Business). He has also been a professor of corporate finance and mergers and acquisitions at Comillas Pontificial University – ICADE (Madrid).