Spanish electric utility firm Iberdrola has appointed Pedro Azagra as its new chief executive officer (CEO).
Before the new appointment, Azagra held the position of CEO of Ibredrola’s subsidiary in the United States. He will be replacing Armando Martínez.
Azagra has been with Iberdrola for 25 years, first as Executive Director of Development with responsibility for the company's international expansion, and for the past three years as CEO of Iberdrola's US unit.
He earned 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, where he has been imparting his knowledge as professor of Corporate Finance and Mergers and Acquisitions.
With an MBA from the University of Chicago (United States), he developed his professional career in the investment banking division of Morgan Stanley until joining the Iberdrola Group.