Andrés R. Gluski
President and Chief Executive Officer at AAES Corp
Since September 2011
Age
66 years
Education
Holds a bachelor's degree from Wake Forest University (magna cum laude) and both an M.A. and a Ph.D. in Economics from the University of Virginia.
Tenure
Joined AES in 2000 and advanced from roles as Regional President of Latin America and Senior Vice President for the Caribbean and Central America to Executive Vice President and Chief Operating Officer (2007–2011), before assuming the current role as President and CEO in September 2011.
Also at AES Corp
BDS
Bernerd Da Santos
Executive Vice President and President of the Renewables Strategic Business Unit
JIR
Juan Ignacio Rubiolo
Executive Vice President and President of the Energy Infrastructure SBU
PLF
Paul L. Freedman
Executive Vice President, General Counsel, and Corporate Secretary
About
Andrés R. Gluski has built a broad and impactful career in the energy sector over more than two decades. His journey at AES reflects a steady progression of leadership responsibilities that have played a key role in transforming the company into a recognized global leader in clean energy technologies, including renewable power and energy storage.
Over the years, he has spearheaded multiple strategic initiatives that have driven significant milestones at AES, such as securing major power purchase agreements and expanding the company’s renewable energy portfolio. His leadership has not only enhanced corporate growth but also reinforced AES's commitment to sustainable energy solutions.
Beyond his operational achievements at AES, his influence extends to industry-wide initiatives and governance roles, including serving on various boards and committees. These roles underscore his broader contributions to the advancement of clean technologies and the promotion of international business leadership.
$AES Performance Under Andrés R. Gluski
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| AES | Executive Vice President and Chief Operating Officer | 2007 to 2011 | Promoted to CEO later |
| AES | Regional President for Latin America | 2006 to 2007 | |
| AES | Senior Vice President for the Caribbean and Central America | 2003 to 2006 | |
| La Electricidad de Caracas (EDC) | CEO | 2002 to 2003 | |
| AES Gener (Chile) | CEO | 2001 | |
| Telecommunications and Banking Industry | Senior Position | Before joining AES | Held senior roles prior to AES |
| International Monetary Fund | Senior Position | Before joining AES | Held senior roles |
| Ministry of Finance of Venezuela | Senior Position | Before joining AES | Held senior roles |
External Roles
| Organization | Role | Date Range |
|---|---|---|
| Waste Management, Inc. | Board Member | Since January 2015 |
| Council of the Americas/Americas Society | Chairman | Since 2015 |
Fixed Compensation
Data from FY 2023
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $1,241,000 | Annual salary | Fixed annual salary; unchanged since 2021. |
| Company Contributions to RSRP | $285,282 | Credited during 2023 | Contributions to the Restoration Supplemental Retirement Plan. |
| Aggregate Earnings in RSRP | $445,317 | Earned in 2023 | Investment earnings credited during 2023 based on participant selections. |
| Aggregate Balance in RSRP at Year-End | $8,763,017 | Year-end balance | Total balance including contributions and earnings as of December 31, 2023. |
Performance Compensation
Data from FY 2023
Performance Share Units (PSUs)
| Metric | Value | Additional Details |
|---|---|---|
| Grant Date | Feb 24, 2023 | |
| Grant Date Fair Value | $3,127,324 | |
| Target Shares | 123,512 PSUs | |
| Maximum Shares | 247,024 PSUs | 200% of target |
| Vesting Schedule | Feb 24, 2026 | Vesting occurs at the end of a 3-year performance period (Jan 1, 2023 – Dec 31, 2025) and subject to continued service |
| Performance Metrics | Environmental & Social Goals | Modifier of up to ±15% (Environmental: 7.5% weight; Social: 7.5% weight) |
Performance Cash Units (PCUs)
| Metric | Value | Additional Details |
|---|---|---|
| Grant Date | Feb 24, 2023 | |
| Grant Date Fair Value | $3,583,909 | |
| Threshold Value | $2,606,100 | |
| Target Value | $5,212,200 | |
| Maximum Value | $10,424,400 | |
| Vesting Schedule | Three installments on Dec 31 each year | Over a 3-year period (Jan 1, 2023 – Dec 31, 2025) |
| Performance Metrics | Total Shareholder Return (TSR) | Based on relative performance to: S&P 500 Utilities Index (50%), S&P 500 (25%), MSCI Latin America Emerging Markets Index (25%) |
| Grant Date Stock Price | $1.00 per unit | Valuation based on AES common stock methodology |
Restricted Stock Units (RSUs)
| Metric | Value | Additional Details |
|---|---|---|
| Grant Date | Feb 24, 2023 | |
| Grant Date Fair Value | $2,084,874 | |
| Grant Date Stock Price | $22.33 | Based on closing price on grant date |
| Threshold Shares | 69,990 | |
| Target Shares | 82,341 | |
| Maximum Shares | 94,692 | |
| Vesting Schedule | Feb 24, 2024; Feb 24, 2025; Feb 24, 2026 | Vesting in 3 equal tranches; third tranche subject to performance modifier |
| Performance Metrics | Environmental & Social Goals | Modifier up to ±15% on the third tranche (Environmental: ±15% at 7.5% weight; Social: ±15% at 7.5% weight) |
Non-Equity Incentive Plan Compensation
| Metric | Value | Additional Details |
|---|---|---|
| Actual Incentive Award | $2,364,105 | 127% of target payout based on the 2023 Corporate Performance Score |
| Target Annual Incentive | 150% of base salary | Based on AES 2023 Performance Incentive Plan |
| Threshold | $0 | |
| Target Value | $1,861,500 | |
| Maximum Value | $3,723,000 | |
| Evaluation Metrics | Parent FCF, Green Growth, New Business Models | Performance measured over 2023 with score ranges from 50% to 200% |