EDP said Miguel Stilwell de Andrade, chairman of its Executive Board and chief executive, will not seek re-election when his current mandate ends at the 2027 Annual Shareholders’ Meeting. The company has begun a formal succession process. Reuters and Cinco Días reported the decision; EDP’s market notice describes the timetable.
This is a planned departure, not an immediate vacancy. Stilwell will continue in the role and perform his duties through the end of the current term. The General and Supervisory Board will coordinate the transition, while its Corporate Governance and Sustainability Committee conducts a comprehensive search with an independent international executive-search firm. EDP said the process will consider both internal and external candidates, with the 2027 meeting expected to elect the company’s corporate bodies for the next term. No successor has been named.
Stilwell’s tenure gives the handoff a long horizon. EDP said he has spent 25 years with the company, including 15 as an Executive Board member and the last six as CEO. In his statement, he called the decision difficult but said it was the right time to close this chapter as EDP approaches its 50th anniversary in 2027. He described the company as cleaner, stronger, and global, with record earnings and a solid balance sheet; those are the outgoing CEO’s characterization of the company’s position.
The same notice identifies a second planned departure: Executive Board member Vera Pinto Pereira also told EDP she will not pursue another term and will remain in office through the current mandate. The announcement therefore starts a broader renewal cycle at the top of the group, while keeping both executives in place during the search. EDP said the Executive Board will work with the supervisory body on an orderly handover and that it will update the market when relevant developments occur.
Our recent coverage of Euronext’s planned CEO succession offers a separate European example of a board-led leadership transition. EDP’s process is still at its opening stage: the company has disclosed the search structure and the end point for Stilwell’s mandate, but not a shortlist or successor.
