AVANGRID Announces Appointments to Boards of Directors

Rhea-AI Summary

AVANGRID, Inc. (NYSE: AGR) announced the appointments of María Fátima Báñez García and Camille Joseph Varlack to its Board of Directors, alongside Donna S. Watson's appointment to the Avangrid Networks Board. These appointments aim to enhance the company's leadership diversity, with female and minority representation rising to 29% on the main board and 57% for independent members. Both Báñez and Varlack bring a wealth of expertise in public policy and risk management, crucial for driving AVANGRID's growth strategy and long-term shareholder value.

Positive

• Increase in board diversity with 29% female and minority representation.
• Expertise of new board members expected to enhance strategic growth.
• Strengthening of independent member representation to 57% on the AVANGRID board.

Negative

• None.

ORANGE, Conn.--(BUSINESS WIRE)-- AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, today announced María Fátima Báñez García and Camille Joseph Varlack have been appointed to its Board of Directors and Donna S. Watson has been appointed to the Avangrid Networks Board of Directors, AVANGRID’s wholly owned subsidiary that owns and operates eight electric and natural gas utilities.

“I’m pleased to announce the appointment of Fátima and Camille to the AVANGRID Board and Donna to the Avangrid Networks Board,” said Ignacio Galán, Chairman and CEO of Iberdrola and Chairman of AVANGRID. “Their expertise in key areas, such as public policy, risk management, government relations and operations, will drive growth and build long-term shareholder value for AVANGRID. I’m confident they will provide valuable perspectives as we continue to execute our strategy and build a clean energy future for our customers and communities.”

Pedro Azagra, CEO of AVANGRID, added, “I want to extend a warm welcome to Fátima, Camille and Donna. They bring an impressive wealth of knowledge in areas important to our business and, as a result, I expect the company will benefit from their expertise for years to come.”

The addition of Báñez and Varlack to the AVANGRID Board increases the percentage of directors who identify as woman or members of a minority group to approximately 29% and increases the number of independent board members to approximately 57%. Watson joined the nine directors for Avangrid Networks and increased the number of independent Avangrid Networks directors to four. With these appointments, AVANGRID and Iberdrola continue to make significant strides toward achieving their goals of addressing the corporate leadership gender gap and achieving full gender parity by 2030.

Báñez is a business consultant and advisor and most recently served as an independent member of the board of directors and audit committee of Iberdrola México, a member of the group of companies controlled by Iberdrola, S.A. She will bring to the AVANGRID Board executive leadership experience including her experience as Minister for Employment and Social Security of the Government of Spain, along with a global business perspective and extensive experience in government relations, economic development, public policy, and human capital management. Báñez has a Law and Business Degree from Universidad Pontificia de Comillas – ICADE, a postgraduate certificate in business administration studies from Harvard University and completed the Public Administration Leadership Program from IESE Business School in Madrid.

Varlack is a founding partner and the chief operating officer of Bradford Edwards & Varlack, LLP, a complex civil and commercial litigation firm based in New York City. She has more than 18 years of hands-on experience in public and private sector legal and operational leadership, including extensive experience in risk management, government relations, ethics and compliance, cybersecurity and human capital management. Varlack has a Juris Doctorate from Brooklyn Law School and a Bachelor of Arts from the State University of New York at Buffalo and is admitted to the Bar of the State of New York.

Watson has nearly four decades of management and senior leadership experience in the financial services industry with expertise across core disciplines, including operations, risk management, sales management and client experience. She most recently served as Bank of America’s national operations executive for the company’s preferred lending business. Previously, she was the operations executive responsible for process enablement, risk management and business continuity for the northeast divisions’ 950 financial centers. Watson earned her Bachelor of Arts from Hood College. She has remained active in local non-profit organizations through her career and currently serves on the board of directors for the Girl Scouts of Maine.

About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $40 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs more than 7,000 people and has been recognized by JUST Capital in 2021 and 2022 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2022, AVANGRID ranked second within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2022 for the fourth consecutive year by the Ethisphere Institute. AVANGRID is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220805005432/en/

MEDIA:

Sarah Warren

sarah.warren@avangrid.com

585-794-9253

Source: AVANGRID, Inc.