Overview
- Endesa’s board appointed Gianni Vittorio Armani as chief executive after the annual shareholder meeting, ending José Bogas’s 12-year run while he remains on the board.
- Armani joined Endesa in 2023 from Enel Grids and built his career in power networks at Italy’s Terna and the utility group Iren, with an MBA from MIT.
- Endesa plans about €5.5 billion for electricity distribution in 2026–2028, so the company is elevating a networks specialist as it shifts spending to the grid that serves homes and businesses.
- The leadership change revives scrutiny of Enel’s 71.25% ownership of Endesa and the Italian state’s stake in Enel, with some voices in Spain warning about a tilt toward “italianization.”
- Shareholders also approved two new directors, Angela Eliseo and Ana Muñoz Merino, at a meeting that highlighted Bogas’s farewell and long record at the company.