Spanish Power Firm Iberdrola Names New CEO

Spanish power firm Iberdrola (IBE.MC) on Tuesday said its board had agreed to name Francisco Martinez Corcoles, who used to run its non-regulated business, as its new chief executive officer after his predecessor stepped down.

Jose Luis San Pedro, who had been Business CEO, was leaving at his own request Iberdrola said, adding he would remain on the board.

Martinez Corcoles, who will be the number two to Iberdrola Chairman Ignacio Sanchez Galan, will oversee the company's renewable energy, wholesale, retail and networks businesses.

(Reporting by Carlos Ruano, writing by Sarah White, editing by William Hardy)