John Y. Kim
Director at ES
Board
About John Y. Kim
John Y. Kim (age 64) is an independent Trustee of Eversource Energy, serving since 2018. He chairs the Finance Committee and sits on the Compensation and Executive Committees, bringing more than 30 years of financial services, investment, risk, and technology experience. He is founder and Managing Partner of Brewer Lane Ventures (since 2019), former President and Chief Investment Officer of New York Life Insurance Company, and holds a B.A. from the University of Michigan (1983) and an M.B.A. from the University of Connecticut (1987) .
Past Roles
| Organization | Role | Tenure | Notes/Committees/Impact |
|---|---|---|---|
| New York Life Insurance Company | President | 2015–2018 | Also served as Chief Investment Officer; broad accounting, financial, technology, risk and reporting experience . |
| Brewer Lane Ventures, LLC | Founder & Managing Partner | 2019–present | Technology-focused venture firm; board exposure to fintech/insurtech startups . |
| Prudential Retirement | Senior leadership roles | Not disclosed | Financial services leadership cited in board qualifications . |
| CIGNA Retirement & Investment Services | Senior leadership roles | Not disclosed | Retirement and investment oversight experience . |
| Aetna | Senior leadership roles | Not disclosed | Financial and risk management credentials . |
External Roles
| Organization | Role | Tenure/Status | Notes |
|---|---|---|---|
| Franklin Resources, Inc. | Director | Current | Public company directorship . |
| Avibra, Ease Capital, EvolutionIQ, Exos Financial, Kingfield Corp., Ladder Financial Inc., Socotra, Inc. | Director | Current | Seven privately held technology startups . |
| Connecticut Business & Industry Association | Vice Chair | Past | Civic/business engagement . |
| MetroHartford Alliance, Inc. | Member | Past | Regional economic organization . |
| University of Connecticut Foundation | Chairman | Past | Academic foundation governance . |
| Greater Hartford Arts Council; The Hartford Stage Company; Connecticut Opera Association | Board/Active | Past | Community and arts organizations . |
Board Governance
- Committee assignments: Chair, Finance; Member, Compensation; Member, Executive .
- Independence: The Board determined on January 29, 2025 that all Trustees other than the CEO are independent under SEC/NYSE/Eversource guidelines; Kim is independent .
- Attendance: In 2024, the Board held 8 meetings (4 in independent executive session) and committees held 28; each Trustee attended at least 75% of aggregate Board and Committee meetings; all Trustees attended the May 1, 2024 Annual Meeting .
- Engagement: The company maintains a Lead Independent Trustee and holds at least three independent Trustee meetings annually; lead independent presides over executive sessions .
- Risk oversight (Kim’s Finance Chair role): Finance Committee oversees liquidity, capital structure, financing programs, budgets/capex, dividend policy, ERM (including cyber, physical security, AI), counterparty credit, insurance, and pension performance; it met five times in 2024, including a joint meeting with the Audit Committee .
Fixed Compensation
| Element (2024 unless noted) | Amount/Structure | Notes |
|---|---|---|
| Annual Cash Retainer | $120,000 | Standard for non-employee Trustees . |
| Finance Committee Chair Retainer | $15,000 | Committee chair fee (Finance) . |
| Compensation Committee Chair Retainer | $20,000 | Not applicable to Kim; listed for structure . |
| Audit Committee Chair Retainer | $25,000 | Structure reference . |
| Governance Committee Chair Retainer | $15,000 | Structure reference . |
| Lead Independent Trustee Retainer | $35,000 | Structure reference . |
| Attendance Fees | None | No Board/Committee meeting fees . |
| Annual Stock Retainer (RSUs) | $165,000 | Grant value basis for 2024 service; RSUs vest next business day; deferral permitted . |
| John Y. Kim – Fees Earned in Cash (2024) | $135,000 | Kim deferred 100% of his cash compensation for 2024 . |
| John Y. Kim – Stock Awards (2024) | $154,372.32 | Reflects grant-date market value of RSUs (see Performance Compensation) . |
| John Y. Kim – Total (2024) | $289,372.32 | Cash plus stock awards . |
| 2025 Structural Changes | Cash retainer increased to $125,000; RSU base increased to $175,000; Finance and Governance Chair retainers increased by $5,000 | Effective January 1, 2025 . |
Performance Compensation
| Metric | Details | Vesting/Terms |
|---|---|---|
| Annual RSU Grant | 3,092 RSUs granted to each non-employee Trustee on January 15, 2025; grant-date price $55.98; grant value ~$173,198 | RSUs generally vest on the next business day (January 16, 2025); Trustees may defer distribution until the tenth business day of January following retirement; required to hold/retain until ownership guidelines met . |
| Performance Metrics | None disclosed for director RSUs | Director equity is time-based; company prohibits paying dividends on equity awards before vesting . |
Other Directorships & Interlocks
- Public company boards: Franklin Resources, Inc. (current) .
- Compensation Committee interlocks: None — no Eversource executive serves on the compensation committee or board of a company where any Eversource Compensation Committee member is an executive officer; no Compensation Committee member is employed by Eversource .
Expertise & Qualifications
- Deep financial services, investment, risk management, accounting, technology and reporting expertise from senior roles at New York Life, Prudential Retirement, CIGNA Retirement & Investment Services, and Aetna; experienced public company director .
- Education: B.A., University of Michigan (1983); M.B.A., University of Connecticut (1987) .
Equity Ownership
| Item | Amount/Detail | Notes |
|---|---|---|
| Beneficial Ownership (Feb 24, 2025) | 34,820 common shares | Includes 15,000 shares held in a trust in spouse’s name, with Kim as trustee . |
| RSUs/Deferred Shares (Ownership Table) | 19,820 | Restricted share units, deferred restricted share units and/or deferred shares credited; no voting/investment power . |
| RSUs as Stock Compensation (Dec 31, 2024) | 16,728 | Aggregate RSUs credited from stock compensation, incl. dividend equivalents . |
| Hedging/Pledging | Prohibited by company policy | No hedging/pledging allowed for Trustees and executives . |
| Ownership Guidelines | 5× annual cash retainer; hold/defer RSU shares until guidelines met | Applies to all Trustees . |
Governance Assessment
- Strengths: Independent Trustee since 2018; chairs Finance Committee with direct oversight of capital structure, ERM and cyber/physical security; serves on Compensation Committee, contributing to pay governance; deferral of 100% of 2024 cash retainer and mandatory share holding enhances alignment; attendance thresholds met; robust no-hedging/pledging and clawback policies .
- Compensation alignment: Balanced director pay structure (cash retainer plus time-based RSUs), ownership guidelines at 5× cash retainer, and required share retention until compliance achieved; no meeting fees, no tax gross-ups, no option repricing — shareholder-friendly features .
- Conflicts/related-party: Board’s annual independence and related-person reviews found no material related-person transactions; ordinary-course utility services are not material; Compensation Committee interlock review clean .
- Engagement/oversight: Board held four independent executive sessions; Lead Independent Trustee structure in place; Finance Committee met five times and Audit six times in 2024, indicating active oversight cadence .
- RED FLAGS: None disclosed specific to Kim. Note potential monitoring area: broad venture/startup board network — while no related-party transactions are disclosed, continue to monitor for future transactions involving entities where Kim has roles; company’s related-party and independence policies mitigate this risk .