Iberdrola USA names new members to Board of Directors and Chief Corporate Officer for U.S. operations
Iberdrola USA, a subsidiary of Iberdrola, S.A., has appointed a new eight-member board of directors that will be led by Chairman Ignacio Galan of Iberdrola. Robert Kump, chief executive officer for Iberdrola USA Networks and a member of the Iberdrola USA board, has also been appointed chief corporate officer for Iberdrola in the U.S.
The board includes four independent members: John Elias Baldacci, previously governor of the State of Maine and member of the U.S. House of Representatives; Jose W. Fernandez, U.S. assistant secretary of state for economic, energy, and business affairs from 2009 - 2013; Alan D. Solomont, U.S. ambassador to Spain and Andorra from 2009 - 2013 and Alfredo Elias Ayub, for more than a decade director general of the Comision Federal de Electricidad, Mexico's largest integrated utility.
"We are honored to have such distinguished individuals join the board of Iberdrola USA," said Iberdrola Chairman Ignacio Galan. "Their depth of experience in industry and government will help guide our U.S. investments in our networks businesses and generation."
Other new members of the board include Jose Sainz Armada, chief financial officer for Iberdrola Group and Pedro Azagra Blazquez, chief development officer for Iberdrola Group. R. Scott Mahoney, vice president and general counsel for Iberdrola USA was also appointed secretary of the board.
Robert Kump, as chief corporate officer of Iberdrola in the U.S., will head the development of the group's strategy in the U.S. and position the company to take advantage of opportunities for growth and expansion. He will remain in his role as chief executive officer of Iberdrola USA Networks, as well.
"Robert Kump is an outstanding choice to be chief corporate officer for U.S. operations," said Galan. "His team will coordinate the activities of the Iberdrola USA group and its subsidiary companies to support the growth of our businesses in the U.S."
The new appointments follow an internal corporate re-organization last November to align U.S. operations with Iberdrola's corporate practice of establishing a single, national subholding company in the principal countries where it operates. Iberdrola USA comprises three intermediate holding companies that operate separately under the direction of separate board of directors. Iberdrola USA Networks operates the company's regulated businesses; Iberdrola Renewables focuses on the development and operation of the company's renewable energy generation fleet; and Iberdrola Energy Holdings operates natural gas storage and energy services.
The US is a priority market for Iberdrola, with more than $30 billion in assets, a quarter of the Group's total. The company has tripled investments there since 2006 and expects to invest between $1 and $1.5 billion dollars per annum in the coming years. The Iberdrola USA companies employ 5,000 people with operations in 24 states from New England to the West Coast and Texas.
"Iberdrola USA companies are leaders in their respective segments of the energy industry," said Robert Kump, chief corporate officer for Iberdrola USA. "Our challenge will be to coordinate our strategies and maximize our expertise and resources as we look for opportunities to grow our U.S. businesses."
Click here for more information on the Iberdrola USA Board of Directors bylaws and members.
- Iberdrola USA Networks, based in New Gloucester, Maine, holds ownership of the company's regulated utilities serving electricity and gas to a population of 6 million in Maine, New Hampshire and New York with assets of about $13.5 billion. The holding company has 100% ownership of operating subsidiaries New York State Electric & Gas Corporation, Rochester Gas and Electric Corporation, Central Maine Power, Maine Natural Gas, and New Hampshire Gas Corporation.
- Iberdrola Renewables, based in Portland, Oregon, holds ownership of the company's unregulated or lightly regulated renewable and thermal generation businesses. Iberdrola Renewables is the second largest wind producer in the U.S. with 60 plants and operations in 19 states and a total owned-generation capacity of 6,130 megawatts. In 2012, Iberdrola Renewables produced 14 million megawatt-hours of electricity and held about $15.7 billion in assets.
- Iberdrola Energy Holdings, LLC, based in Houston, Texas, holds ownership of the company's portfolio of underground storage facilities across the country, as well as the energy services trading floor in Houston, Texas and Salt Lake City, Utah. The company is one of the top independent gas storage operators and gas traders in the U.S. with more than 130 billion cubic feet of storage capacity.
- Iberdrola, S.A., employs 31,000 people around the globe, with a special focus on Spain, the UK, the U.S., Brazil, and Mexico. It is one of the world's largest electricity companies with more than $40 billion in market capitalization. Through its 30 million points of supply it serves a population of 100 million. It has 45,000 megawatts of installed capacity, and is a global leader in renewable energy capacity.
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