Board refresh would increase diversity
AVANGRID, Inc. (NYSE: AGR), today announced that its Board of
Directors has nominated four new director candidates for election
at its 2019 Annual Meeting, which will be held on June 27, 2019 at
8:30 a.m. EDT at WilmerHale in Boston, Massachusetts. The nominees,
who will join 10 current directors standing for re-election,
are:
- Robert Duffy, President and Chief
Executive Officer of the Greater Rochester Chamber of Commerce
- Teresa Herbert, Chief Financial Officer
and Senior Vice President of Independence Holding Company
- Patricia Jacobs, President of AT&T
New England
- Sonsoles Rubio Reinoso, Internal Audit
Director of the Iberdrola Group
“I am pleased to announce the nominations of Robert, Teresa,
Patricia and Sonsoles to the AVANGRID Board,” said Ignacio Sanchez
Galán, Chairman of the Board. “Each candidate brings a wealth of
knowledge and expertise in areas important to our business,
including policy, finance and accounting and risk management. This
is a significant step in our commitment to ensuring best-in-class
governance practices through refreshing our board, with an eye
toward further diversification.”
If elected at the Annual Meeting, the addition of these four
individuals would increase the percentage of women on the Board to
nearly 36% and the number of independent board members to 50%.
AVANGRID has added six new directors over the past four years and
is committed to continuously reviewing and enhancing the
composition of its Board to benefit from a diversity of
perspectives and experiences in a consistently evolving
industry.
For more information about the Annual Meeting and the experience
and qualifications of the nominees for election at the Annual
Meeting, please see AVANGRID’s definitive proxy statement filed
with the Securities and Exchange Commission (the "SEC") on April
29, 2019, and available in the Annual Shareholder Meeting section
of www.avangrid.com.
Pedro Azagra Blázquez, Arnold L. Chase, and Alfredo Elías Ayub,
who each served on the board since 2014, 2015 and 2014,
respectively, and whose terms expire on the day of the 2019 Annual
Meeting, will not be standing for re-election.
Mr. Galán concluded, “I want to thank Pedro, Arnold and Alfredo
for their service to the Board. We are grateful for their many
contributions during their tenure as directors, and the company
will benefit from their contributions for years to come.”
About AVANGRID: AVANGRID, Inc. (NYSE: AGR)
is a leading, sustainable energy company with approximately $32
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 eight electric and natural gas
utilities, serving 3.2 million customers in New York and New
England. Avangrid Renewables owns and operates 7.1 gigawatts of
electricity capacity, primarily through wind power, with a presence
in 22 states across the United States. AVANGRID employs
approximately 6,500 people. AVANGRID supports the U.N.’s
Sustainable Development Goals and was named among the World’s Most
Ethical Companies in 2019 by the Ethisphere Institute. For more
information, visit www.avangrid.com.
Additional Information and Where to
Find It
This release may be deemed to be additional soliciting material
with respect to the solicitation of proxies by the Board of
Directors of the Company with respect to the Company's annual
meeting of shareholders to be held on June 27, 2019 (the "Annual
Meeting"). The Company filed its definitive proxy statement and
accompanying proxy card relating to the Annual Meeting (the "Proxy
Statement") with the SEC on April 29, 2019. The Proxy Statement and
the Company's 2018 Annual Report to Shareholders were first made
available to shareholders on or about April 29, 2019. Shareholders
can obtain the Proxy Statement, any amendments or supplements to
the Proxy Statement and other documents filed by the Company with
the SEC for no charge at the SEC's website at www.sec.gov. Copies
of the proxy materials are also available to shareholders at no
charge at www.proxyvote.com or by writing to the Company's
Corporate Secretary at AVANGRID, Inc., 180 Marsh Hill Road, Orange,
Connecticut 06477.
Forward Looking
Statements
This news release contains a number of forward-looking
statements. Forward-looking statements may be identified by the use
of forward-looking terms such as “may,” “will,” “should,” “would,”
“could,” “can,” “expect(s),” “believe(s),” “anticipate(s),”
“intend(s),” “plan(s),” “estimate(s),” “project(s),” “assume(s),”
“guide(s),” “target(s),” “forecast(s),” “ are (is) confident that”
and “seek(s)” or the negative of such terms or other variations on
such terms or comparable terminology. Such forward-looking
statements include, but are not limited to, statements about our
plans, objectives and intentions, outlooks or expectations for
earnings, revenues, expenses or other future financial or business
performance, strategies or expectations, or the impact of legal or
regulatory matters on business, results of operations or financial
condition of the business and other statements that are not
historical facts. Such statements are based upon the current
reasonable beliefs, expectations, and assumptions of our management
and are subject to significant risks and uncertainties that could
cause actual outcomes and results to differ materially. Important
factors are discussed and should be reviewed in our Form 10-K and
other subsequent filings with the SEC. Specifically,
forward-looking statements include, without limitation: the future
financial performance, anticipated liquidity and capital
expenditures; actions or inactions of local, state or federal
regulatory agencies; success in retaining or recruiting our
officers, key employees or directors; changes in levels or timing
of capital expenditures; adverse developments in general market,
business, economic, labor, regulatory and political conditions;
fluctuations in weather patterns; technological developments; the
impact of any cyber breaches or other incidents, grid disturbances,
acts of war or terrorism or natural disasters; the impact of any
change to applicable laws and regulations affecting operations,
including those relating to environmental and climate change,
taxes, price controls, regulatory approval and permitting; the
implementation of changes in accounting standards; and other
presently unknown unforeseen factors. Additional risks and
uncertainties are set forth under the “Risk Factors” in the
AVANGRID, Inc. Annual Report on Form 10-K for the year ended
December 31, 2018 and Quarterly Report on Form 10-K for the three
months ended March 31, 2019, which are on file with the SEC. Should
one or more of these risks or uncertainties materialize, or should
any of the underlying assumptions prove incorrect, actual results
may vary in material respects from those expressed or implied by
these forward-looking statements. You should not place undue
reliance on these forward-looking statements. We do not undertake
any obligation to update or revise any forward-looking statements
to reflect events or circumstances after the date of this press
release, whether as a result of new information, future events or
otherwise, except as may be required under applicable securities
laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20190522005170/en/
Media:
Zsoka McDonaldzsoka.mcdonald@avangrid.com203.499.3809
AVANGRID Corporate
Communicationscorporatecommunications@avangrid.com833.MEDIA.55
(833.633.4255)
Investor Relations:
Patricia
Cosgelpatricia.cosgel@avangrid.com203.499.262
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