Joseph R. Nolan, Jr.
Also at Eversource Energy
About
Joseph R. Nolan, Jr. is a seasoned executive dedicated to driving growth and innovation at Eversource Energy. At 61 years old as of February 14, 2025 , he has consistently demonstrated strategic leadership and a commitment to excellence in the energy industry.
He began his impactful journey at Eversource Energy by joining as President and CEO in 2021. Prior to that, he held significant positions, serving as Executive Vice President in both Customer and Corporate Relations roles from August 2016 until May 2021. This phase of his career laid the foundation for his subsequent leadership roles.
In January 2023, he was elected Chairman of the Board, further solidifying his role as a guiding force behind the company's success. His leadership has been characterized by strategic decision-making and an unwavering focus on aligning the company with sustainable growth and clean energy initiatives.
Alongside his professional achievements, he holds strong academic credentials, having earned a B.A. in Communications and an M.B.A. from Boston College. This blend of experience and education underscores his ability to bridge strategic vision with practical execution, making him a pivotal figure in the company's continued evolution.
$ES Performance Under Joseph R. Nolan, Jr.
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Eversource Energy | Executive Vice President - Strategy, Customer and Corporate Relations | Feb 5, 2020 - May 5, 2021 | N/A |
| Eversource Energy | Executive Vice President - Customer and Corporate Relations | Aug 8, 2016 - Feb 5, 2020 | N/A |
External Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| MGH Institute of Health Professionals | President's Council Member | N/A | Serves on the President's Council of the MGH Institute of Health Professionals |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $1,325,001 | 2023 | Fixed annual salary |
| Retirement Plan (QP) | $1,218,146 | 2023 | Present Value of Accumulated Benefits |
| Supplemental Plan (Excess) | $11,446,635 | 2023 | Present Value of Accumulated Benefits |
| Supplemental Plan (SERP) | $11,120,961 | 2023 | Present Value of Accumulated Benefits |
| All Other Compensation | $79,708 | 2023 | Other fixed compensation |
Performance Compensation
Annual Incentive Compensation
| Metric | Value | Notes |
|---|---|---|
| Grant Date | Feb 1, 2023 | Date of incentive grant |
| Threshold | $867,000 | Minimum performance level |
| Target | $1,734,000 | Predefined incentive goal |
| Maximum | $3,468,000 | Cap on payout |
| Actual Payout | $1,630,000 | 94% of target; reflects company performance challenges |
No vesting schedule applies as this is a cash-based incentive. Performance is evaluated based on team performance, individual contributions, and overall company results with the EPS-based goal eliminated.
Performance Shares
| Metric | Value | Notes |
|---|---|---|
| Grant Date | Feb 1, 2023 | Date when performance shares were granted |
| Target Shares | 70,177 shares | Shares granted at target performance |
| Maximum Shares | 140,354 shares | 200% of the target |
| Grant Date Fair Value | $8,018,396 | Total fair value of the granted performance shares |
| Performance Metrics | 3-Year Average EPS Growth: 6.0% ; 3-Year TSR: 8th percentile | Metrics based on EPS growth and relative total shareholder return; TSR below 10th percentile sets a below-target payout |
| Vesting Schedule | 3-Year Performance Period (2023-2025) | Vesting contingent on meeting performance criteria over the evaluation period |
| Realized Shares | 19,412 shares | Shares acquired on vesting |
| Realized Value | $1,543,748 | Valuation based on a stock price of $78.89 per share as of Feb 14, 2023 |
The performance compensation combines cash incentives and share-based awards. The Annual Incentive is measured against predetermined thresholds, targets, and maximums, while the Performance Shares component is contingent upon achieving specific performance metrics over a three-year period. Both components are designed to align executive rewards with the company’s operational and financial performance.