Monica Karuturi
About Monica Karuturi
Monica Karuturi, age 46, was appointed to Nextracker’s Board on June 17, 2025. She is Executive Vice President and General Counsel of CenterPoint Energy, serving as EVP & GC since January 2022, after prior roles as SVP & GC (July 2020–January 2022) and VP & Deputy GC (April 2019–July 2020). She holds a B.A. from Brown University, an M.P.H. from Columbia University, and a J.D. from Georgetown University Law Center .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| CenterPoint Energy | Executive Vice President & General Counsel | Jan 2022–present | Legal leadership, enterprise governance (as GC) |
| CenterPoint Energy | Senior Vice President & General Counsel | Jul 2020–Jan 2022 | Oversaw legal and compliance |
| CenterPoint Energy | Vice President & Deputy General Counsel | Apr 2019–Jul 2020 | Corporate legal deputy leadership |
| LyondellBasell Industries | Counsel, Corporate Finance & Strategic Transactions | Prior to CenterPoint (dates not disclosed) | Corporate finance and strategic transactions legal work |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| CenterPoint Energy (NYSE: CNP) | Executive Vice President & General Counsel | Jan 2022–present | Utility sector executive; external to Nextracker |
No other public company directorships are mentioned in her Nextracker proxy biography .
Board Governance
- Committee assignments: Member, Compensation and People Committee (C&P) .
- Chair roles: None; C&P Committee chaired by Willy Shih .
- Independence: Board determined she satisfies Nasdaq independence requirements for C&P Committee service .
- Attendance and engagement: FY25 Board held 7 meetings; “each Board member attended 75% or more,” but Ms. Karuturi was appointed June 17, 2025 (after FY25), so no FY25 attendance record applies to her .
- Executive sessions: Board and committees typically hold executive sessions of non-management directors at every regularly scheduled quarterly meeting .
- Related-party oversight: Audit Committee reviews and pre-approves related-person transactions and administers the related party transaction policy .
Fixed Compensation
Director cash retainer structure (non-employee, non-TPG directors):
| Position | Annual Retainer ($) |
|---|---|
| Chairperson | 50,000 |
| Board Member | 65,000 |
| Audit Committee Chair | 25,000 |
| Audit Committee Member | 12,500 |
| Compensation & People Committee Chair | 25,000 |
| Compensation & People Committee Member | 12,500 |
| Nominating, Governance & Public Responsibility Committee Chair | 10,000 |
| Nominating, Governance & Public Responsibility Committee Member | 5,000 |
FY25 director compensation reported for Monica Karuturi:
| Name | Fees Earned/Paid in Cash ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|
| Monica Karuturi | 0 (joined after FY25) | 0 (joined after FY25) | 0 |
Retainers are paid quarterly and prorated for partial-year service .
Performance Compensation
Director equity grants (time-based RSUs):
| Feature | Detail |
|---|---|
| Annual RSU grant value ($) | 150,000 for directors; +50,000 additional for Board Chair |
| Grant timing | Business day immediately following each annual meeting |
| Vesting | Time-based; one-year anniversary or business day immediately preceding next annual meeting, subject to continued service |
| Performance metrics | None disclosed for director RSUs; awards are time-based (no performance-vesting) |
Other Directorships & Interlocks
| Category | Disclosed Roles |
|---|---|
| Current public company boards | None mentioned in NXT proxy biography |
| Prior public company boards | Not disclosed |
| Private/non-profit/academic boards | Not disclosed |
| Committee interlocks | None disclosed; C&P Committee membership noted |
Expertise & Qualifications
- Energy industry executive experience as EVP & GC at CenterPoint Energy .
- Legal and corporate governance expertise; prior strategic transactions counsel at LyondellBasell .
- Education: Brown (B.A.), Columbia (M.P.H.), Georgetown Law (J.D.) .
Equity Ownership
Beneficial ownership (as reported in FY25 proxy):
| Holder | Class A Shares Beneficially Owned (#) | % of Total Voting Power |
|---|---|---|
| Monica Karuturi | — (not listed; indicates <1%) | — (<1%) |
Ownership alignment policies:
| Policy | Requirement/Status |
|---|---|
| Director stock ownership guidelines | Within five years, hold stock valued at ≥5x total annual cash retainer for Board and committee service |
| Hedging/pledging | Prohibited for executive officers and directors (no hedging, short sales, pledging) |
| Section 16 compliance (FY25) | Company states all directors/officers timely filed required reports in FY25 |
Governance Assessment
-
Strengths
- Independent C&P Committee member with deep legal and compliance background, supportive of pay governance and succession oversight .
- Robust director ownership guideline (5x retainer within five years) and prohibitions on hedging/pledging enhance alignment and reduce risk .
- Strong related-party review framework via Audit Committee and formal policy .
-
Watch items / potential conflicts
- Current role as EVP & GC at CenterPoint Energy (utility sector) creates potential industry adjacency; monitor for any transactions or business relationships between Nextracker and CenterPoint that could require recusal under the related-person policy .
- No initial ownership disclosed; monitor progression toward director ownership guideline over five years .
- Newly appointed in June 2025; assess future attendance and committee engagement in the next proxy cycle .
-
RED FLAGS
- None disclosed specific to Ms. Karuturi: no related-party transactions, hedging/pledging is prohibited, and no director pay anomalies are reported for her in FY25 (joined after FY25) .