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Posted 24 June, 2022

Avangrid, Inc. appointed new CEO

CEO Change detected for ticker NYSE:AGR in a 8-K filed on 24 June, 2022.


  On June 24, 2022, Avangrid Management Company, LLC, a wholly owned subsidiary of Avangrid, Inc. (the "Corporation"), entered into a separation and release agreement (the "Separation Agreement") with Robert D. Kump in connection with his previously announced retirement as Deputy Chief Executive Officer and President of the Corporation.  

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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 June 24, 2022, Avangrid Management Company, LLC, a wholly owned subsidiary of Avangrid, Inc. (the "Corporation"), entered into a separation and release agreement (the "Separation Agreement") with Robert D. Kump in connection with his previously announced retirement as Deputy Chief Executive Officer and President of the Corporation. In addition to the separation payments and benefits that Mr. Kump is entitled to under his previously filed employment agreement in respect of a retirement, the Separation Agreement provides that in recognition of Mr. Kump's many years of service to the Corporation and its subsidiaries Mr. Kump will receive a payment of $900,000 and reimbursement of up to $20,000 in legal fees related to or arising out of his retirement, 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 is filed by the Corporation as Exhibit 10.1 to this current report on Form 8-K.