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Posted 26 February, 2021

Avangrid, Inc. appointed new CEO

CEO Change detected for ticker NYSE:AGR in a 8-K filed on 26 February, 2021.


  On February 23, 2021, Avangrid, Inc. (the "Corporation"), entered into a separation and release agreement (the "Separation Agreement") with Anthony Marone III in connection with his previously announced retirement as President and Chief Executive Officer of Avangrid Networks, Inc., a wholly-owned subsidiary of Avangrid, Inc. ("Networks").  

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Overview of Avangrid, Inc.
Companies on the Energy Service • Electric Utilities
Avangrid, Inc. engages in the energy transmission and gas distribution. It operates through the following segments: Networks, Renewables, and Other. The Networks segment includes energy transmission and distribution, electric transmission, and gas distribution activities. The Renewables segment relates to renewable energy, mainly wind energy generation and trading related to such activities. The Other segment covers miscellaneous corporate revenues including intersegment eliminations. The company was founded in 1852 and is headquartered in Orange, CT.
Market Cap
$12.4B
View Company Details
Avangrid, Inc. by TradingView
Relevant filing section
Item 5.02 
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


On February 23, 2021, Avangrid, Inc. (the "Corporation"), entered into a separation and release agreement (the "Separation Agreement") with Anthony Marone III in connection with his previously announced retirement as President and Chief Executive Officer of Avangrid Networks, Inc., a wholly-owned subsidiary of Avangrid, Inc. ("Networks"). The Separation Agreement provides that Mr. Marone will receive those separation payments and benefits that he is entitled to under his previously filed employment agreement in respect of a termination without cause and will be subject to customary confidentiality and restrictive covenant provisions, including non-disparagement, non-competition and non-solicitation. 

The foregoing summary of the Separation Agreement is qualified in its entirety by reference to the full text of such agreement, a copy of which will be filed by the Corporation as an exhibit to its quarterly report on Form 10-Q for the quarterly period ending March 31, 2021. 


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