Iberdrola’s board on 24 June appointed Pedro Azagra as chief executive officer, replacing Armando Martínez, according to a regulatory filing with Spain’s CNMV. Azagra, who has led Iberdrola’s US subsidiary Avangrid, also joins the utility’s executive committee and will hold the seat until the next annual shareholders’ meeting. Chairman Ignacio Sánchez Galán, who retains the role of executive chairman, had been reviewing the company’s leadership ahead of a new strategic plan due in September that will prioritise regulated networks. Martínez leaves the post after roughly three and a half years. Azagra increases his responsibilities after overseeing some of Iberdrola’s largest corporate transactions and heading operations in the United States. The leadership reshuffle comes days after industry publication World Finance again named Iberdrola Spain’s best-governed company.