Andrés R. Gluski

President and Chief Executive Officer at AES

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

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%