Four EDP executives emerge in race to succeed Stilwell

EDP has started the succession process for chief executive Miguel Stilwell d’Andrade, with the outgoing CEO pointing to four senior internal executives as part of the group’s “excellent bench” of talent. The issue matters for investors because the leadership transition comes at a key moment for Portugal’s largest utility and its international renewables expansion.

Speaking on a call with analysts after EDP Renováveis reported a fourfold rise in profit for the first nine months to September, Stilwell d’Andrade said the process would be handled professionally and would consider a broad range of candidates. He singled out Rui Teixeira, EDP’s chief financial officer; Duarte Bello, CEO of EDP Iberia; Sandhya Ganapathy, CEO of EDP Renewables North America; and Ana Paula Marques, an executive board member responsible for renewable generation assets.

Teixeira would represent continuity, with roles across finance, generation and Spain, as well as responsibility for investor relations, M&A and risk management. Ganapathy brings exposure to the US renewables market, which the company sees as its main growth engine and the largest destination for planned investment between 2026 and 2028. Bello has a background in finance, investment banking and M&A, and now leads EDP’s Iberian business. Marques combines board-level experience at EDP with previous senior roles in telecoms and current oversight of renewable generation assets and digital strategy.

ECO reported on Wednesday that Stilwell d’Andrade would leave the top job, in a move that the article said had not been expected by analysts or investors. On the analyst call, he said the decision had not been easy but was the right one, while stressing that EDP had strong internal management options for the next phase.

Originally published at Eco.pt