In 2025, Pedro Azagra was recognised at the CEO of the Year Awards by CEO Magazine for his leadership of Avangrid. These awards distinguish executives who stand out for their strategic vision and their impact in the US.
Pedro Azagra Blázquez
Iberdrola Chief Executive Officer
Pedro Azagra has been Chief Executive Officer (CEO) of the Iberdrola Group since June 2025. He brings to the role more than 25 years of experience in various leadership positions within Iberdrola.
Pedro Azagra Blázquez has been with the Iberdrola Group since 1997, serving as Director of Strategy, Director of Corporate Development and General Director of Development. He was also CEO of Avangrid, Iberdrola’s US subsidiary, before taking up the position of CEO of the Group in 2025.
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Pedro Azagra Blázquez has been with the Iberdrola Group since 1997, serving as Director of Strategy, Director of Corporate Development and General Director of Development. He was also CEO of Avangrid, Iberdrola’s US subsidiary, before taking up the position of CEO of the Group in 2025.
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Key achievements at Iberdrola
Throughout his career at Iberdrola, Azagra has played a leading role in the company’s strategic growth. He has overseen the execution and integration of more than 120 transactions worth more than $120 billion worldwide, enabling Iberdrola’s entry into new markets such as the United States, the United Kingdom, Brazil, Greece, France, Australia, Japan, Germany, Poland and others. In line with this vision, he led the development of the Group’s 2001-2006 Strategic Plan.
During his tenure as head of Iberdrola’s US operations, Azagra significantly improved Avangrid’s financial results. He increased adjusted net profit from ordinary activities by 24% – reaching $914 million – and grew cash flow by a factor of 14 to $3.7 billion dollars. He also secured $15 billion in investment across the Networks and Generation businesses nationwide, and obtained a further $900 million in tax credits for the Vineyard Wind 1 offshore wind project.
Other relevant positions
Pedro Azagra currently sits on the Board of Directors of Iberdrola S.A. and is a member of the Executive Committee of the Edison Electric Institute in the United States. Until 2025, in addition to being CEO of Avangrid, he also served as Chair of Avangrid Power and Avangrid Networks.
Previous professional experience
Before joining the Iberdrola Group, Azagra worked in the investment banking division at Morgan Stanley in London and New York and taught Corporate Finance and Mergers & Acquisitions at the Comillas Pontifical University. He also served as a Quartermaster Second Lieutenant in the Spanish Army, graduating top of his class at the academy.
Recognitions
In June 2026, Pedro Azagra was awarded the 2026 Gold Medal of the Americas Society in recognition of "his role in promoting economic growth, sustainability and regional connectivity across the Americas". The award recognises his contribution to the energy transition and his role in Iberdrola’s international expansion, particularly in Latin America and the United States.
In October 2025, Azagra was named CEO of the Year – Runner-Up in the CEO of the Year Awards organised by the US publication CEO Magazine for his leadership of Avangrid. He was selected from among 13,000 chief executives by an elite judging panel that assessed factors including leadership, financial performance and growth, organisational culture and engagement, customer impact, social and environmental responsibility, and innovation and problem-solving capabilities.
Education
Azagra holds degrees in Business Administration and Law from the Catholic Institute of Business Administration (ICADE) at the Comillas Pontifical University in Madrid, and an MBA from the University of Chicago. He speaks English, Portuguese and German, in addition to his native Spanish.
News about Pedro Azagra
19 November 2025
24 June 2025