Avangrid Management

Management criteria checks 2/4

Avangrid's CEO is Pedro Azagra Blazquez, appointed in May 2022, has a tenure of 4.42 years. total yearly compensation is $10.69M, comprised of 10.8% salary and 89.2% bonuses, including company stock and options. directly owns 0.008% of the company’s shares, worth €1.05M. The average tenure of the management team and the board of directors is 2.1 years and 6.7 years respectively.

Key information

Pedro Azagra Blazquez

Chief executive officer

US$10.7m

Total compensation

CEO salary percentage	10.8%
CEO tenure	2yrs
CEO ownership	0.008%
Management average tenure	2.1yrs
Board average tenure	6.7yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Pedro Azagra Blazquez's remuneration changed compared to Avangrid's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	US$892m
Dec 31 2023	US$11m	US$1m	US$786m
Sep 30 2023	n/a	n/a	US$536m
Jun 30 2023	n/a	n/a	US$582m
Mar 31 2023	n/a	n/a	US$681m
Dec 31 2022	US$5m	US$641k	US$881m
Sep 30 2022	n/a	n/a	US$898m
Jun 30 2022	n/a	n/a	US$904m
Mar 31 2022	n/a	n/a	US$818m
Dec 31 2021	US$140k	n/a	US$707m
Sep 30 2021	n/a	n/a	US$709m
Jun 30 2021	n/a	n/a	US$685m
Mar 31 2021	n/a	n/a	US$675m
Dec 31 2020	US$140k	n/a	US$581m
Sep 30 2020	n/a	n/a	US$605m
Jun 30 2020	n/a	n/a	US$668m
Mar 31 2020	n/a	n/a	US$690m
Dec 31 2019	US$70k	n/a	US$667m
Sep 30 2019	n/a	n/a	US$596m
Jun 30 2019	n/a	n/a	US$571m
Mar 31 2019	n/a	n/a	US$568m
Dec 31 2018	US$140k	n/a	US$587m

Compensation vs Market: Pedro Azagra's total compensation ($USD10.69M) is above average for companies of similar size in the German market ($USD5.55M).

Compensation vs Earnings: Pedro Azagra's compensation has increased by more than 20% in the past year.

CEO

Pedro Azagra Blazquez (55 yo)

2yrs

Tenure

US$10,689,792

Compensation

Mr. Pedro Azagra Blazquez served as Director of Corporate Development of Iberdrola, S. A. since 2008 until June 1, 2022. He served as the Chief Development Officer of Iberdrola from 2008 to May 2022. He se...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Pedro Azagra Blazquez	CEO & Director	2yrs	US$10.69m	0.0079% $ 1.0m
Justin Lagasse	CFO, Senior VP & Controller	less than a year	US$1.11m	0.00050% $ 66.2k
R. Mahoney	Senior VP	8.4yrs	US$3.14m	0.0015% $ 202.7k
Catherine Stempien	President & CEO of Avangrid Networks	3.2yrs	US$3.97m	0.0062% $ 821.5k
Jose Miranda Soto	President & CEO of Avangrid Renewables	no data	US$3.23m	0.0018% $ 231.9k
Charlotte Ancel	Vice President of Investor Relations	no data	no data	no data
German Avecilla	VP & Chief Compliance Officer	less than a year	no data	no data
Kimberly Harriman	Senior Vice President of State Government Affairs & Corporate Communications	1.9yrs	no data	no data
Ignacio Estella	Senior Vice President of Corporate Development	8.4yrs	no data	no data
Kyra Patterson	VP & Chief Human Resources Officer	2.3yrs	no data	no data
Nacho Arronte	VP & Chief Risk Officer	2.3yrs	no data	no data
Alfredo Canto	Senior VP & Chief of Staff	1.1yrs	no data	no data

2.1yrs

Average Tenure

53yo

Average Age

Experienced Management: 12A's management team is considered experienced (2.1 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Pedro Azagra Blazquez	CEO & Director	4.4yrs	US$10.69m	0.0079% $ 1.0m
David Flanagan	Executive Chairman of CMP	4.3yrs	no data	no data
Teresa Ellen Herbert	Independent Director	4.9yrs	US$200.00k	0.00026% $ 34.4k
John Lahey	Independent Non-Executive Director	8.4yrs	US$240.00k	0.0057% $ 755.2k
Alan Solomont	Independent Non-Executive Director	10.3yrs	US$240.00k	0.0027% $ 363.0k
Jose Sanchez Galan	Non-Executive & Non-Independent Chairman of the Board	10.3yrs	US$240.00k	0.028% $ 3.6m
Jose Armada	Director	10.3yrs	US$200.00k	no data
Santiago Martinez Garrido	Director	9.3yrs	US$200.00k	no data
Daniel Lopez	Director	4.2yrs	US$170.00k	0.00069% $ 91.4k
John Baldacci	Independent Vice Chairman of the Board	10.3yrs	US$240.00k	0.000090% $ 11.9k
Robert Duffy	Independent Director	4.9yrs	US$240.00k	no data
Maria Banez Garcia	Independent Director	1.8yrs	US$240.00k	no data

6.7yrs

Average Tenure

66yo

Average Age

Experienced Board: 12A's board of directors are considered experienced (6.7 years average tenure).

Avangrid Management

Management criteria checks 2/4

Key information

Recent management updates

Avangrid, Inc. Announces Promotion of Justin Lagasse to the Position of Chief Financial Officer

Avangrid Announces Executive Changes

Avangrid, Inc. Announces Resignation of Patricia Cosgel as Senior Vice President, Effective on November 24, 2023

Avangrid, Inc. Appoints Justin Lagasse as Senior Vice President and Controller

Avangrid, Inc. Announces Executive Changes

Avangrid, Inc. Announces Executive Changes

Recent updates

First quarter 2024 earnings released: EPS: US$0.91 (vs US$0.63 in 1Q 2023)

Avangrid, Inc. to Report Q1, 2024 Results on Apr 23, 2024

Fourth quarter dividend of US$0.44 announced

Avangrid, Inc. Declares Quarterly Dividend, Payable July 1, 2024

Avangrid Launches New Educational Tool to Simplify Billing for Utility Customers

Investor sentiment improves as stock rises 15%

Avangrid, Inc. Announces Promotion of Justin Lagasse to the Position of Chief Financial Officer

Full year 2023 earnings released: EPS: US$2.03 (vs US$2.28 in FY 2022)

Upcoming dividend of US$0.44 per share

Third quarter dividend of US$0.44 announced

Avangrid, Inc. Declares Quarterly Dividend, Payable on April 1, 2024

Avangrid, Inc. Pilots Mobile Robot Dog to Advance Substation Inspections with Artificial Intelligence

Avangrid, Inc. to Report Q4, 2023 Results on Feb 21, 2024

Avangrid, Inc. Reaffirms Earnings Guidance for the Year 2023

Upcoming dividend of US$0.44 per share at 5.6% yield

Avangrid, Inc. Reaffirms Earnings Guidance for the Full Year 2023

Third quarter 2023 earnings released: EPS: US$0.15 (vs US$0.27 in 3Q 2022)

Avangrid Announces Executive Changes

Avangrid, Inc. Announces Resignation of Patricia Cosgel as Senior Vice President, Effective on November 24, 2023

Avangrid, Inc. Declares Quarterly Dividend, Payable on January 2, 2024

Avangrid, Inc. to Report Q3, 2023 Results on Oct 25, 2023

Avangrid, Inc. Expanded Supplier Diversity Program Opens Doors to Innovation

Upcoming dividend of US$0.44 per share at 5.1% yield

Avangrid, Inc. Unveils Vineyard Wind 1 Offshore Wind Substation

Avangrid, Inc. Reaffirms Earnings Guidance for the Full Year 2023

New minor risk - Profit margin trend

Second quarter 2023 earnings released: EPS: US$0.22 (vs US$0.48 in 2Q 2022)

Avangrid, Inc. Appoints Justin Lagasse as Senior Vice President and Controller

Avangrid, Inc. Declares Quarterly Dividend, Payable on October 2, 2023

Avangrid, Inc. Announces Executive Changes

Avangrid, Inc. Announces Executive Changes

Avangrid, Inc. to Report Q2, 2023 Results on Jul 26, 2023

Maine Public Utilities Commission Approves Central Maine Power Multi-Year Rate Plan

Upcoming dividend of US$0.44 per share at 4.6% yield

First quarter 2023 earnings released: EPS: US$0.63 (vs US$1.15 in 1Q 2022)

Full year 2022 earnings released: EPS: US$2.28 (vs US$1.97 in FY 2021)

Upcoming dividend of US$0.44 per share at 4.4% yield

Avangrid, Inc., Annual General Meeting, Jun 13, 2023

Avangrid, Inc. to Report Q4, 2022 Results on Feb 21, 2023

Avangrid, Inc. Announces Board Changes

Avangrid, Inc. Declares Quarterly Dividend, Payable on January 3, 2023

Avangrid, Inc. to Report Q3, 2022 Results on Oct 25, 2022

Now 21% undervalued

Upcoming dividend of US$0.44 per share

Second quarter 2022 earnings released: EPS: US$0.48 (vs US$0.28 in 2Q 2021)

Second quarter 2022 earnings released: EPS: US$0.48 (vs US$0.28 in 2Q 2021)

Avangrid, Inc. Appoints Patricia Cosge as Chief Financial Officer

Avangrid, Inc. Declares Quarterly Dividend, Payable on October 3, 2022

Avangrid, Inc. to Report Q2, 2022 Results on Jul 26, 2022

Avangrid, Inc. Announces Retirement of Robert D. Kump as President

AVANGRID Appoints Kimberly Harriman as Senior Vice President, State Government Affairs & Corporate Communications

Avangrid, Inc. Announces Resignation of Dennis V. Arriola from the Board of Directors

Avangrid, Inc., Annual General Meeting, Jul 20, 2022

Upcoming dividend of US$0.44 per share

First quarter 2022 earnings released: EPS: US$1.15 (vs US$1.08 in 1Q 2021)

Avangrid, Inc. Re-Affirms Earnings Guidance for the Full Year 2022

Avangrid, Inc. to Report Q1, 2022 Results on Apr 26, 2022

AVANGRID Declares Quarterly Dividend, Payable on July 1, 2022

Avangrid, Inc. Announces CEO Changes

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Now 20% undervalued after recent price drop

Avangrid, Inc. Announces Management Changes

Upcoming dividend of US$0.44 per share

Avangrid, Inc. Declares Quarterly Dividend on Common Stock, Payable on April 1, 2022

Avangrid, Inc. to Report Q4, 2021 Results on Feb 22, 2022

Third quarter 2021 earnings released: EPS US$0.29 (vs US$0.28 in 3Q 2020)

Upcoming dividend of US$0.44 per share

Second quarter 2021 earnings released: EPS US$0.28 (vs US$0.28 in 2Q 2020)

Avangrid, Inc. Announces BOEM Advances Permitting of Connecticut’s Offshore Wind Project