AVANGRID Appoints Patricia Cosgel Chief Financial Officer
ORANGE, Conn.–(BUSINESS WIRE)–AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company, and part of the Iberdrola Group, today announced the appointment of Patricia Cosgel as Chief Financial Officer. She will assume the role immediately and will oversee Treasury, Control and Administration, Investor Relations, Risk and Tax. In addition, she will have responsibility for our ESG+F program and reporting requirements.
“I’m happy to add Patricia to our strong and diverse executive leadership team,” said Pedro Azagra, CEO of AVANGRID. “Patricia has extensive financial and investor experience in the energy industry that will be an important asset to our team. I expect her leadership to continue driving our financial strength as a leading sustainable energy company in the U.S.”
Ignacio Galán, Chairman of AVANGRID said “Patricia brings the necessary financial skills to support the continued growth of AVANGRID and deliver strong financial results.”
Cosgel has more than 30 years of experience in the financial industry and financial roles in the utility industry. She has been with AVANGRID since 2015, after the merger with Iberdrola USA, when she joined from UIL Holdings Corporation, where she was Vice President and Treasurer. She has served as AVANGRID’s Interim Chief Financial Officer since February 2022 and previously was Vice President of Investor Relations for the company, responsible for managing investor and equity research analyst relationships and communications about the strategic and financial performance and outlooks of the AVANGRID companies. Prior to UIL, she spent a 12-year tenure with Eversource where she held various roles in the finance function, including Assistant Treasurer and Director of Enterprise Risk Management.
“I’m excited to be stepping into this role and bringing AVANGRID’s financial stewardship to the next level,” said Patricia Cosgel, Chief Financial Officer. “Our financial sustainability not only promotes our ESG-led business strategy but is a result of it. At AVANGRID, we know the importance of investing in the future today. I look forward to working alongside Pedro and all my colleagues to achieve the company’s ambitious goals.”
Cosgel holds a master’s degree in economics from the University of Iowa, where she passed all PhD qualifying examinations, and a bachelor’s degree in economics from Dickinson College, where she graduated Phi Beta Kappa and Magna Cum Laude. She will report to Azagra.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $40 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 and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs more than 7,000 people and has been recognized by JUST Capital in 2021 and 2022 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2022, AVANGRID ranked second within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2022 for the fourth consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.
About Iberdrola: Iberdrola is one of the world’s biggest energy companies and a leader in renewables, spearheading the energy transition to a low carbon economy. The group supplies energy to almost 100 million people in dozens of countries. With a focus on renewable energy, smart networks and smart solutions for customers, Iberdrola’s main markets include Europe (Spain, the United Kingdom, Portugal, France, Germany, Italy and Greece), the United States, Brazil, Mexico and Australia. The company is also present in growth markets such as Japan, Taiwan, Ireland, Sweden and Poland, among others.
With a workforce of nearly 40,000 and assets in excess of €141.7 billion, the company posted revenues of €39 billion and a net profit of over €3.9 billion in 2021. Across the world, Iberdrola helps to support 400,000 jobs across its supply chain, with annual procurement of €12.2 billion. A benchmark in the fight against climate change, Iberdrola has invested more than €130 billion over the past two decades to help build a sustainable energy model, based on sound environmental, social and governance (ESG) principles.