EDPR informs on Miguel Stilwell de Andrade's decision not to serve another term
Madrid, November 4th, 2026: EDP Renewables, S.A. (EDPR), announces that Miguel Stilwell de Andrade, Vice Chairman and CEO, has informed the Board of Directors that he will not be available for re-election to a new term of office. He will therefore step down from his position at the end of his current term, which concludes with the Annual Shareholders' Meeting to be held in 2027.
Until that date, Miguel Stilwell de Andrade will continue to perform all his duties as CEO with the full support of the Board of Directors, ensuring continuity in the execution of the Business Plan and in the fulfilment of the Company's commitments to its shareholders, employees, customers and other stakeholders. The Management Team will also work closely with the Board to ensure an orderly and seamless handover of responsibilities throughout the succession process.
Miguel Stilwell de Andrade has accompanied EDPR since its inception in 2007, including the last two terms of office as CEO. Over that period, he has played a central role in shaping the Company into what it is today.
Following his decision, the Board of Directors, through the Appointments and Remunerations Committee, will coordinate the transition process to his successor, in accordance with the principles of good corporate governance and the mechanisms established in EDPR's governance framework for this purpose, so that the Annual Shareholders' Meeting in 2027 can elect the Company's corporate bodies for the next term.
EDPR will keep the market informed of any relevant developments in the process, in accordance with its disclosure obligations.
António Gomes Mota, Chairman of the Board of Directors, said: “On behalf of the Board of Directors, I would like to express our appreciation to Miguel Stilwell de Andrade for his outstanding work as CEO of EDPR since 2021. He has guided the company through a particularly challenging period for the renewable energy industry, while further consolidating its position as a leading player in the sector. Under his leadership, EDPR has strengthened its impressive international footprint, enhanced its efficiency and profitability, and established a clear and sustainable path for long-term growth. EDPR's Nominations and Remuneration Committee, chaired by the Chairman of the Board, will closely monitor the succession process and take all necessary steps to support the Board and ensure a smooth transition at the top management level of EDPR.”
Miguel Stilwell de Andrade, Vice Chairman of the Board of Directors and CEO, said: “Leading EDPR is a true privilege, and I am immensely proud of what we have achieved together. We have made EDPR a stronger and truly global renewable energy company, with a resilient and focused portfolio, a value over volume growth strategy, with outstanding performance in the USA and a strong growing earnings path. This was not an easy decision, but it is the right decision. Over more than 2 decades, I have been through the acquisition of Horizon, the incorporation of EDPR in 2007, the subsequent IPO, the different growth phases that followed, and my 6-year tenure as CEO. It is now time to close this chapter, with the Company in a strong position, with an exceptional team and a bright future ahead. I thank the shareholders and the Board of Directors, and in particular its Chairman, for the trust they have placed in me, and I would like to give special thanks to all our teams and my colleagues on the Management Team for everything we have built together. Until the Annual Shareholders Meeting, my focus remains entirely on EDP and EDPR: on the execution of our plan and an orderly transition.”
EDP Renewables, S.A.