Iberdrola reelects CEO Pedro Azagra at 125‑year shareholders meeting

Iberdrola held its annual shareholders meeting in Bilbao, marking the company's 125th anniversary. Shareholders voted to confirm Pedro Azagra as chief executive, a position he has held since June of last year after succeeding Armando Martínez. The ballot also covered the re‑election of independent directors María Ángeles Alcalá Díaz, Isabel García Tejerina and Anthony L. Gardner, and the appointment of Marina Freitas Grossi, chair of Brazil's Business Council for Sustainable Development, to replace Regina Helena Jorge Nunes.

The meeting approved 2025 results showing a record net profit of €6.285 billion and total investments of €14.460 billion. The board proposed a complementary dividend of €0.427 per share, added to the €0.253 already paid, bringing the total dividend to €0.68 per share and allocating €4.5 billion to shareholders – the highest payout in the company's history. A €0.005 per‑share “involvement dividend” was also suggested, conditional on a 70 % attendance quorum. Other agenda items included the renewal of auditors KPMG (2026) and PwC (2027‑2029) and a new long‑term incentive plan covering 2026‑2028.