Succession of Stilwell de Andrade open to internal and external candidates

O miguel Stilwell de Andrade's succession process as CEO of EDP will be open to internal and external candidates and the annual general meeting of 2027 will be elected the next social bodies, it was communicated to the market.

“The Committee of Corporate and Sustainability Government of the General and Supervisory Council will conduct a formal and comprehensive process of identifying and evaluating potential successors, open to internal and external candidates, with the support of an independent international company specializing in the recruitment of executive executives”, reads the note sent to the Securities Market Commission CMVM.

EDP hopes that the social bodies can be elected at the 2027 annual general meeting for the next term.

EDP’s CEO Miguel Stilwell de Andrade announced today that he is not available to integrate the social organs of electric in the next term.

The current CEO will terminate his duties at the end of the current term of office, which ends with the Annual General Assembly to be held in 2027, according to the announcement of the electric to the market.

Also Vera Pinto Pereira, who is part of the Executive Board, does not intend to integrate EDP's social bodies in the next three years, remaining in office until the end of the current term.

Miguel Stilwell de Andrade was elected president of EDP's Executive Board in January 2021, a position he held since July of the same year, after the suspension of functions of António Mexia.

Mechanical engineer of training at the University of Strathclyde in Glasgow, Scotland, Miguel Stilwell de Andrade specialized in the financial world, having started his career at the UBS Investment Bank in London, UK, where he worked mainly in the area of mergers and acquisitions in various international projects.

The experience gained in that area led him to EDP, where he arrived in 2000, to integrate the sector of Corporate Strategy and Development / M&A (mergers and acquisitions) of the group, of which he was director between 2005 and 2009.

Miguel Stilwell de Andrade was directly involved in the acquisition of several companies in the renewable energy sector, which then gave rise to EDP Renováveis, as well as in several phases of the process of reprivatization of electricity.

He also participated in EDP's capital increase operation in 2004 in EDP's Public Sales Offer (OPV) Energy from Brazil in 2005 and EDP’s OPV Renewable in 2008.

Between January 2009 and February 2012, he was a member of EDP's Board of Directors. Distribution Energy and also managed EDP Innovation by EDP Ventures and EDP Gas distribution.

In 2012, he became CEO of EDP Comercial and was also elected member of the Executive Board of EDP Group.

Since 2018, and until the time of António Mexia's departure from EDP's leadership, Stilwell de Andrade played the role of electrician financial administrator.

In today's session of the grant, EDP's shares rose by 2.26% to 4.98 euros.