José Bogas will put an end at the next General Shareholders' Meeting, scheduled for April 28, to his period as CEO of Endesa, after almost 12 years at the head of the electricity company.
His departure will not entail a total withdrawal, as the executive, who will turn 71 years old in 2026, will remain linked to Endesa as an external director in the company's highest governing body, as stated in the call for the general meeting sent by the company to the National Securities Market Commission (CNMV).
In this way, Bogas leaves the executive functions in a company to which he has been linked for more than a decade as chief executive, in a context marked by the energy transition, the expansion of renewable energies and the advance of the electrification of the economy.
Considered one of the leading names in the Spanish energy sector, Bogas has built his career over more than forty years at Endesa, thanks to his deep knowledge of both the company and the national electricity market.
Industrial engineer from the ICAI Higher Technical School of Engineering, where he graduated in 1978, he joined in 1982 the then public company as head of market research section in the Planning Department.
From that position he was ascending in the organizational chart, occupying practically all the key positions, until in 2014, when he served as general director of the business in Spain and Portugal, he was appointed CEO in replacement of Andrea Brentan, already with Endesa integrated under the control of the Italian Enel, its main shareholder, who in 2009 had taken the majority control of the electricity company.
Leadership in the transformation of the electricity sector
Throughout these four decades, he has participated in most of the major changes experienced by Endesa and by the entire sector. Since the 80s, he has played a relevant role in milestones such as the elaboration of the National Energy Plan, the exchange of assets that reconfigured the business structure of the electricity sector, the Stable Legal Framework that governed the regulatory framework for years, and the liberalization initiated with the Electricity Sector Law of 1997.
However, it has been since 2014, already as CEO, when his prominence in the management of the great business and sectoral challenges has become more visible.
On the institutional level, he has been a key interlocutor in the design and execution of the national ecological transition policy, in the definition of the Nuclear Protocol and in the implementation of the just transition plans linked to the closure of the coal power plants within the process of decarbonization of the Spanish economy.
In the corporate realm, he has piloted the transformation of Endesa to maintain its leadership in the Spanish electricity market and evolve towards a company focused on renewable energies, oriented towards the full decarbonization of its generation fleet, digitalization, the electrification of demand, and the improvement of energy efficiency.
He has also led the drive for new business lines, such as electric mobility and the development of products and services focused on customer centricity, as well as the company's own digital transformation of assets and of the workforce, promoting a profound internal cultural change.
All this he has achieved, furthermore, with a trajectory in which, year after year since his appointment as CEO, the company has exceeded the economic, financial, and business objectives communicated to the market in its successive strategic plans.
Last month of February, during the presentation of annual results, Bogas stated he felt "with strength" to continue leading the electricity company, although he clarified that his continuity should be decided by "the board of Endesa and, ultimately" the general shareholders' meeting.
"Life is as it is and things are as they are. After 45 years at Endesa, every day that passes it is true that I am closer to my retirement. But I will abide by what is best for the group," he said then.
Likewise, he quipped that, if his departure finally occurred, he would do so at a particularly positive moment, since with the 2025 results, when Endesa raised its earnings by 16%, to 2.198 million euros, and shattered targets, "he would leave through the main door".
Handover in the hands of Enel
The choice of the person who will replace Bogas as CEO falls to Enel, main shareholder of Endesa with about 70% of the capital, which must submit its proposal to the next meeting.
The Italian parent company will have to choose between a Spanish or Italian profile, as has been commented in recent weeks, to lead what is considered the main jewel of its portfolio of subsidiaries.