Dak Liyanearachchi
Executive Vice President and Chief Technology Officer at NRG
Executive
About Dak Liyanearachchi
Dak Liyanearachchi, age 56, is Executive Vice President and Chief Technology Officer at NRG, serving in this role since December 2024 after roles as Chief Data & Technology Officer (Nov 2021–Dec 2024) and Chief Data & Analytics Officer (Aug 2020–Nov 2021) . His background spans enterprise data and analytics leadership at Hilton Worldwide (2017–2020), membership on Gartner’s Chief Data Officer Advisory Board (2016–2017), and senior analytics roles at Catalina Marketing in Europe and the U.S. (2007–2017) . Company performance over his tenure aligns incentives to shareholder outcomes: 2024 AIP metrics paid at 183% overall with strong Adjusted FCFbG ($2,153M) and Adjusted EBITDA ($3,690M) results , RPSUs for the 2022–2024 cycle vested at 200% on Jan 2, 2025 on 98th percentile relative TSR and ~156% absolute TSR , and YTD Q3 2025 Adjusted EBITDA was $3,240M on revenue of ~$22,946M .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| NRG | EVP & Chief Technology Officer | Dec 2024–Present | Leads technology at the intersection of energy/smart home supporting NRG’s integrated platform . |
| NRG | Chief Data & Technology Officer | Nov 2021–Dec 2024 | Drove data and technology integration across NRG and Vivint ecosystem . |
| NRG | Chief Data & Analytics Officer | Aug 2020–Nov 2021 | Led analytics enabling retail energy and smart home solutions . |
| Hilton Worldwide | Chief Data & Analytics Officer | Aug 2017–Jul 2020 | Enterprise data/analytics leadership in global consumer services . |
| Gartner | Chief Data Officer Advisory Board (Member) | Feb 2016–Aug 2017 | External advisory role shaping data strategy best practices . |
| Catalina Marketing (EU/US) | EVP, Chief Data & Analytics Officer; SVP, Global Data & Analytics | Sep 2007–Aug 2017 | Built analytics capabilities across consumer marketing platforms . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Gartner | Chief Data Officer Advisory Board (Member) | Feb 2016–Aug 2017 | External governance/advisory experience in data leadership . |
Fixed Compensation
- Specific base salary, target bonus %, and actual bonus for Dak are not disclosed in the 2025 Proxy; NRG’s named executive officers (NEOs) for 2024 are Coben, Chung, Curci, Gaudette, and Patel .
Performance Compensation
NRG’s executive incentive design (which governs NEOs and generally informs exec-wide structures) emphasizes pay-for-performance through annual AIP and long-term equity (RPSUs/RSUs):
- AIP metrics and weights (2024): Adjusted FCFbG 45%, Adjusted EBITDA 40%, ESG 15%; overall formulaic result 183% .
- LTIP structure: majority RPSUs (relative TSR vs S&P 500 constituents; >median required for target; absolute TSR guardrail; 6x cap), plus time-based RSUs with ratable vesting; DERs accrue to vested shares; no stock options granted in 2024 .
| Metric | Weight | Threshold | Target | Maximum | Actual Result | Payout |
|---|---|---|---|---|---|---|
| Adjusted FCFbG ($MM) | 45% | 1,357 | 1,940 | 2,135 | 2,153 | 200% |
| Adjusted EBITDA ($MM) | 40% | 2,378 | 3,400 | 3,742 | 3,690 | 185% |
| ESG (CFI/EPI/Wellbeing) | 15% | 50% | 100% | 200% | 128% | 128% |
| Final Weighted AIP | 100% | — | — | — | — | 183% |
RPSU outcomes (most recent cycle):
- 2022 awards vested Jan 2, 2025 at 200% of target based on 98th percentile relative TSR and ~156% absolute TSR across the 3-year period .
Equity Ownership & Alignment
- Policies: Robust clawback policy (NYSE-compliant; restatement triggers; no indemnification for clawbacks) ; strict Insider Trading Policy prohibits hedging/pledging of company stock by executives and directors ; director stock retention requirements (retain all stock received; limited tax sell exceptions) .
- Stock ownership guidelines: NEOs must hold multiples of salary (e.g., CEO 6x; others 3x), maintained post transactions; unvested RPSUs don’t count; RSUs do . Dak’s specific ownership and guideline status are not disclosed in the Proxy .
- 10b5-1 trading plans: In Q3 2025, trading arrangements were adopted by Kinney, Curci, Gaudette, and Chung; Dak is not listed among adopters during that period .
Employment Terms
- CEO and Vivint-derived executive agreements are disclosed (Coben employment agreement; Patel Vivint Employment Agreement), including severance/change-in-control terms and LTIP targets; other NEOs participate in the Amended and Restated Executive Change-in-Control and general Severance Plan (Tier IA/IIA) with 2.99x CIC cash severance, double-trigger equity treatment, and COBRA reimbursement . Dak’s individual agreement or plan participation is not disclosed.
Performance & Track Record
- 2024 highlights: Exceeded midpoints of raised guidance; returned $1.263B to shareholders ($925M repurchases; $338M dividends); advanced 1.5 GW ERCOT dispatchable development; achieved target net-debt/EBITDA (2.5x–2.75x) earlier than planned; formed VPP partnership with Renew Home (Nest Renew + OhmConnect) .
- AIP alignment: 2024 AIP metrics exceeded targets (Adjusted FCFbG ~200%; Adjusted EBITDA ~185%; ESG 128%), evidencing strong pay-for-performance linkage .
- YTD Q3 2025 financials: Revenue ~$22,946M; Adjusted EBITDA $3,240M; Adjusted EPS $7.17 basic (consolidated) .
- Net income/EPS detail (Q3 2025 period): Net income $152M; diluted EPS $0.69; YTD diluted EPS $3.72; equity comp incremental shares included in dilution .
Compensation Governance and Peer Benchmarking
- Compensation Committee (independent): E. Spencer Abraham (Chair), Antonio Carrillo, Matthew Carter Jr., Heather Cox, Alexander Pourbaix .
- Independent consultant: Pay Governance; reviews design and market competitiveness across energy, consumer products, and general industry; pay decisions consider investor feedback (2024 Say-on-Pay 79% support) .
- Performance peer group for RPSUs: S&P 500 constituents at grant date; requires above-median for target vesting, with absolute TSR guardrail .
Risk Indicators & Red Flags
- Protections: Anti-hedging/anti-pledging policy ; clawback policy ; capped incentive payouts; balanced absolute/relative metrics; extended vesting mitigates short-term risk-taking .
- Filings: Late Form 4 instances in 2024 noted for other executives due to administrative issues; no late filing disclosures for Dak .
Say-on-Pay & Shareholder Feedback
- 2024 Say-on-Pay approval ~79%; ongoing outreach to investors covering employment agreements, incentive structures, and program design .
Expertise & Qualifications
- Core credentials: Enterprise data/analytics leadership in hospitality and consumer marketing (Hilton, Catalina), advisory experience (Gartner CDO Board), and technology leadership at NRG/Vivint—aligned to NRG’s strategy converging energy and smart home tech .
Investment Implications
- Compensation alignment: Company-wide incentives paid above target on financial/ESG metrics, and RPSU outcomes tied to top-decile TSR reinforce strong linkage to shareholder value—supportive for retaining high-impact tech leadership like Dak .
- Retention/trading signals: No 10b5-1 trading arrangement disclosures for Dak in Q3 2025, reducing near-term selling overhang disclosures; however, absence of personal ownership/vesting detail limits precision on potential selling pressure .
- Execution risk: Technology leadership is central to NRG’s integrated energy/smart home strategy; governance (anti-hedging/pledging; clawbacks) and robust committee oversight mitigate compensation-related risk, but lack of disclosed individual compensation/ownership for Dak warrants monitoring future proxies/8-Ks for retention economics and alignment granularity .