Iberdrola SA (IBE.MC) has named Nick Horler as new chief executive of its subsidiary Scottish Power, Iberdrola Chief Executive Ignacio Galan is quoted as saying in a statement Tuesday.
Jose Luis de Valle, who so far had been Scottish Power's CEO has been named the U.K. company's new vice president, the statement said.
Iberdrola also said it has set up a new executive board at Scottish Power, which is presided by Galan and has five members.
Horler so far was sales director at E.On UK Plc subsidiary Powergen.
In April 2007, Iberdrola completed the GBP11.6 billion cash-and-shares takeover of the U.K.'s Scottish Power PLC, and became Europe's third largest utility by market value.
The Spanish energy company in May said it is looking at other possible deals in the U.K. and has been named as a possible buyer of British Energy PLC (BGY.LN). People familiar with the situation, however, told Dow Jones Newswires last week that Iberdrola actually hasn't submitted a bid for British Energy.
Iberdrola, based in Bilbao, northern Spain, is the world's biggest wind-power generator.