The IBERDROLA Group has a decentralised structure and management model that approaches the decision-making to the countries in which such decisions must have effect. This is done through the country subholding companies and the head of business companies. The independence and strengthened autonomy of the listed country subholding companies is also guaranteed.
IBERDROLA, S.A. (holding company):
- The Board of Directors defines and oversees the policies, strategies and guidelines for the management of the Group, and takes strategic decisions.
- The chairman & chief executive officer, with the technical support of the Operating Committee, the Business CEO, and the rest of the management team, assumes the duty of organisation and strategic coordination of the Group through the dissemination, implementation, and monitoring of the overall strategy and basic management guidelines established by the Board of Directors.
- Such entities group together equity stakes in the energy head of business companies carrying out their activities within the various countries in which the Group operates. This structure is rounded out with a country subholding company that groups together certain equity interests in other entities, including the non-energy head of business companies, with a presence in various countries.
- Help with the organisation and strategic coordination in the various countries, disseminating and implementing the policies and general guidelines of the Group.
- Centralise the provision of services common to the head of business companies, always in accordance with the provisions of applicable law and especially the legal provisions regarding the separation of regulated activities.
- Have boards of directors that include independent directors and their own audit committees and internal audit areas.
- Have a special framework of strengthened autonomy that covers the regulatory area, the related party transactions area, and the management area.
- Assume decentralised executive responsibilities, enjoy the independence necessary to carry out the day-to-day administration and effective management of each of the businesses, and are responsible for the day-to-day control thereof.
- Are organised through their respective boards of directors, which include independent directors where appropriate, and their own management decision-making bodies; they may also have their own audit committees, internal audit areas, and compliance units or divisions.
Avangrid, Inc. is 81.50% owned by Iberdrola, S.A.