Iberdrola names new CEO of Spanish subsidiary

Spanish utility group Iberdrola SA (BME:IBE) has installed Mario Ruiz-Tagle as the CEO of Iberdrola Espana, the group’s subsidiary in Spain.

The Santiago, Chile-born executive arrives from Iberdrola’s Brazilian sub-holding Neoenergia SA (BVMF:NEOE3) where he served as the CEO since 2017.

Ruiz-Tagle led Neoenergia’s initial public offering in 2019, and oversaw the company as it went to multiply its annual net profit by 13 between 2016 and 2021, Iberdrola said announcing his appointment on Tuesday.

Iberdrola has a 53.5% stake in Neoenergia.

In Spain, Ruiz-Tagle will be responsible for Iberdrola Espana’s income statement and for representing the company before government bodies and external institutions, the utility added.

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