Mario Ruiz-Tagle, so far director of Neoenergia, replaces Ángeles Santamaria in the position
Iberdrola has confirmed the change the market expected weeks ago in the figure of its CEO in Spain. The group has appointed Mario Ruiz-Tagle to this position to replace the current CEO in Spain, Ángeles Santamaría.
Ruiz-Tagle is of Chilean descent and until now was the CEO of Neoenergia, the Brazilian subsidiary of Iberdrola, chaired by Ignacio Galán. He has been in the energy sector since 1996 and started his career two decades ago at Iberdrola as director of institutional relations for the Brazilian subsidiary; In 2004 he was appointed Business Director of the Iberdrola Division in Latin America and six years later he became Country Manager of Iberdrola Brazil. In 2017, the year Neoenergia founded Elektro Redes, Mario Ruiz-Tagle was appointed CEO and in July 2019 he led the successful capital opening process.
With this move, Ignacio Galán is betting on a figure in his international company to take over the Spanish subsidiary. He will be responsible for the country’s income statement and for representing the company to government agencies and outside agencies. Iberdrola Spain was founded in June 2014, when the new governance model of the Iberdrola group was completed, which then already had comparable companies in the rest of its reference markets.
Neoenergia is one of the growth vectors of the Iberdrola group, especially in recent years. The Brazilian subsidiary of Iberdrola, whose parent company owns 53.5%, has increased from 303 million Brazilian reais (approximately 55.8 million euros) in 2016 to 3,925 million reais (722 million euros), meaning you can increase your net profit with 13 in five years. Neoenergia earned in the first quarter of this year 20% more than in the same period of 2021, 1,212 million Brazilian reais (223 million euros), accounting for one-fifth of the group’s worldwide profit.
Ángeles Santamaría is leaving the position she has held since 2018, which was a clear step in her commitment to gender diversity in the company. Until now, the CEO replaced Fernando Becker, an experienced manager, who took advantage of the early retirement plan.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
