When José Bogas was appointed CEO of Endesa in 2014, he had a mission: to design a new industrial and investment plan in Spain, a market he knew firsthand because until then he was the general director of the business in the State and Portugal. Bogas held the position with an Endesa already in the hands of the Italian Enel, which today controls 70% of the share capital. And he did so, precisely, after the energy company had few assets left beyond those in the Iberian Peninsula: Enel had just expanded its operations to Latin America, which was seen as a first step to slim down Endesa.