Alain Monié
AESAbout Alain Monié
Independent director at AES since 2017; age 74. Serves as Chair of the Compensation Committee and member of the Governance and Innovation & Technology Committees. Former CEO and Executive Chair of Ingram Micro, with deep experience in global technology, manufacturing, and supply chain operations. Education: M.S. Engineering (École Nationale Supérieure d’Arts et Métiers), MBA (Groupe HEC Paris) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ingram Micro Inc. | CEO | 2012–2022 | Led transformation to global technology and supply chain solutions leader |
| Ingram Micro Inc. | Executive Chairperson | 2022–2024 | Oversaw strategic direction and governance |
| Ingram Micro Inc. | Non‑Executive Chairperson | Since 2024 | Board leadership and oversight |
| Asia Pacific Resources International Holdings Limited | CEO | 2010–2011 | Led global sustainable fibers and papers manufacturer |
| Honeywell International Inc. | President, Latin America; Head of Industrial & Building Automation | 2000–2002 | Operational leadership in industrial automation |
| AlliedSignal (acquired by Honeywell in 1999) | VP, Asia Pacific | 1987–1999 | Regional leadership across Asia |
External Roles
| Company | Role | Tenure | Notes |
|---|---|---|---|
| Ingram Micro Inc. (Public Directorship past 5 years) | Director; Non‑Executive Chairperson | Since 2024 | Listed in AES proxy as other public directorship |
| Expeditors International of Washington, Inc. | Director | 2017–2020 | Past public board service |
Board Governance
- Independence: Board determined in Feb 2025 that Monié is independent under NYSE rules; Audit, Compensation, and Governance Committees comprise solely independent directors .
- Committee assignments: Chair, Compensation; member, Governance; member, Innovation & Technology. 2024 committee meetings: Audit (8), Compensation (7), Governance (6), Innovation & Technology (5) .
- Attendance and engagement: Board met 9 times in 2024; average attendance 96%; no director attended less than 75%; independent directors held executive sessions after 7 board meetings .
- Board leadership: Independent Chair and Lead Independent Director (John B. Morse, Jr.); separation of Chair and CEO roles .
- Director stock ownership guidelines: Non‑employee directors must hold at least 5× annual retainer within five years; all directors have attained or are on track .
- Overboarding policy: Non‑employee directors limited to ≤4 public boards; Audit Committee members ≤3 audit committees; all current board members in compliance .
- Clawback policy: Executive officer clawback for accounting restatements; 2024 restatements did not require recovery under policy .
- Hedging/Pledging: Prohibited for directors and employees; no margin accounts or pledging of AES securities .
- Related party transactions: None in 2024 per the company’s related-person policy and procedures .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual Board retainer (2024) | $100,000 | Directors may elect cash or deferred stock units |
| Compensation Committee Chair fee (2024) | $20,000 | Chair retainer for committee service |
| Fees earned or paid in cash (Monié, 2024) | $120,000 | Reflects chair role |
Elective deferrals (2024): Monié deferred $0 of annual retainer and $0 of chair retainer into deferred stock units .
Performance Compensation
| Component | Amount | Design/Metric | Vesting | Notes |
|---|---|---|---|---|
| Annual Deferred Incentive Compensation Grant (DSUs, 2024) | $175,000 | Deferred stock units; based on closing price $17.13/share on grant date | Fully vested at grant; generally paid post‑service | Monié total stock awards $175,000 ; DSU grant structure and closing price reference |
| Option awards (2024 grants) | $0 | N/A | N/A | No stock option grants to directors in 2024 |
Independent consultant: Governance Committee retained Meridian to review director compensation mix and levels in 2024 .
Other Directorships & Interlocks
| Company | Overlap/Interlock Consideration | Commentary |
|---|---|---|
| Ingram Micro Inc. (Non‑Exec Chair) | Technology and supply chain; no AES‑disclosed related transactions | No related‑party transactions disclosed for 2024; overboarding compliance affirmed |
| Expeditors International of Washington, Inc. (2017–2020) | Global logistics; prior role ended | Historical; no current interlock |
Expertise & Qualifications
- Strategy & Growth: Led major business transformations and global expansion; drove digital transformation at Ingram Micro .
- Technology & Cybersecurity: Oversaw development of new IT solutions and is well‑versed in industry trends .
- Global Business/International Affairs: Senior roles across Europe, Asia, North and South America; Latin America operational leadership .
- Manufacturing & Supply Chain: CEO experience in manufacturing; Honeywell and AlliedSignal operational expertise .
Equity Ownership
| Ownership Item | Amount | Details |
|---|---|---|
| Shares of Common Stock Beneficially Owned | 231,742 | Less than 1% of class |
| Options exercisable within 60 days (as of Mar 10, 2025) | 99,051 | Only one director held options: Monié—99,051 |
| Deferred stock units credited (as of Dec 31, 2024) | 103,966 | Under 2003 Long Term Compensation Plan |
| Pledging/Hedging | Prohibited | Company policy bans hedging/pledging |
| Director ownership guideline compliance | On track/attained | Directors have attained or are on track to 5× retainer |
Insider Trades (Form 4)
| Date (Oldest → Newest) | Type | Shares | Price | Post‑Txn Ownership | Source |
|---|---|---|---|---|---|
| 2023‑08‑16 | Purchase | 27,400 | $18.27 | ~28,730 | SEC EDGAR Form 4 for MONIE ALAIN; transaction summarized by Benzinga |
| 2025‑05‑09 | Option/Stock award (Director grant) | 15,737 | $0.00 | 119,703 (Direct) | SECForm4 summary and filing link |
Note: 2024 director DSU grants are reflected in AES’s director compensation table and DSU unit totals; no new stock options were granted to directors in 2024. As of 12/31/2024, Monié is the only director holding legacy options (99,051) .
Governance Assessment
-
Strengths
- Independence confirmed (NYSE standards) and service as Compensation Committee Chair positions him to drive pay‑for‑performance alignment and oversight; committee members affirmed independent and non‑employee status .
- High board engagement: 9 board meetings; average attendance 96%; independent director executive sessions after 7 meetings; no director below 75% attendance .
- Robust governance: independent Chair; separation of Chair/CEO; strong director ownership guidelines; overboarding controls; prohibition on hedging/pledging .
- No related‑party transactions in 2024; clear policy for review and approval of any such matters .
- Transparent director compensation program reviewed by independent consultant (Meridian) with balanced cash/equity mix; no 2024 director option grants .
-
Potential Watch Items / Red Flags
- Legacy options: Monié holds 99,051 options; while not a new grant, options can create sensitivity to short‑term price movements; monitor exercise/holding behavior and any pledging (prohibited by policy) .
- External commitments: Non‑Executive Chair at Ingram Micro could demand time, but AES affirms overboarding compliance; continue to monitor workloads given committee chair duties .
- Attendance detail: Company reports aggregate attendance (96%) and threshold compliance (>75%); individual attendance percentages are not disclosed—maintain oversight through committee reports and evaluations .
Director Compensation (Summary for 2024)
| Item | Amount (USD) |
|---|---|
| Fees Earned or Paid in Cash | $120,000 |
| Stock Awards (DSUs) | $175,000 |
| Options | $0 |
| Total | $295,000 |
Program details:
- Annual retainer: $100,000; Chair retainers: Compensation ($20,000), Governance ($20,000), Innovation & Technology ($20,000); Chairman of the Board receives higher multiples .
- DSU grant: $175,000, fully vested at grant; based on closing price $17.13/share on grant date .
- Elective deferrals: Monié elected $0 deferrals for retainer and chair retainer in 2024 .
Committee Influence and Pay‑for‑Performance Signals (Compensation Committee)
- Committee composition/report: Monié (Chair), Davidson, Laulis, Naím, Sebastian; issued Compensation Committee Report recommending inclusion of CD&A in the 10‑K .
- Independent advisor: Meridian retained; assessed independent; reviews market trends, governance best practices; no conflicts found .
- Risk mitigators in compensation programs: balanced fixed/variable pay, capped incentive plans, multiple measures/time periods, ownership and holding requirements, clawback policy; severance program without excise tax gross‑ups; double‑trigger CIC .
- Say‑on‑pay context: 2024 support >96% for NEO compensation, reinforcing investor confidence in compensation oversight .
Equity Ownership Alignment
| Measure | Value |
|---|---|
| Beneficially Owned Shares | 231,742 (less than 1%) |
| Options (exercisable ≤60 days) | 99,051 |
| Deferred Stock Units Credited | 103,966 |
| Ownership Guideline Status | Attained/on track to 5× retainer |
| Hedging/Pledging | Prohibited by policy |
Expertise & Board Value Add
- Strategy/Growth and international leadership across multiple geographies and sectors (technology, manufacturing) .
- Technology and cybersecurity insights valuable to AES’s innovation agenda .
- Deep operational expertise in manufacturing and industrial automation supports AES’s execution and risk oversight .
Governance Conclusion
Monié’s independence, extensive global operating experience, and leadership as Compensation Committee Chair are positives for board effectiveness and investor alignment. Oversight practices (ownership guidelines, hedging/pledging bans, overboarding compliance, and no 2024 related‑party transactions) reduce conflict risk. Monitor legacy option holdings and external time commitments, but current disclosures suggest alignment and robust governance controls are in place .