Ricardo Perez
PUBLIC SERVICE ENTERPRISE GROUPAbout Ricardo G. Pérez
Independent director of Public Service Enterprise Group (PSEG), age 65, appointed to the board in 2024. Retired President and COO of Westinghouse Electric Company with 30+ years in nuclear operations and additional senior roles at Tennessee Valley Authority; holds an MS in Engineering (University of Pittsburgh) and BS in Engineering (University of Florida). Board qualifications emphasize nuclear operations and safety, regulatory expertise, supply chain, and cyber/physical security oversight .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Westinghouse Electric Company | President & COO; various leadership roles | 2010–2013; 1981–2013 | Led nuclear operations and safety; deep regulatory and operational experience |
| Tennessee Valley Authority | SVP & Chief Administrative Officer; SVP, Nuclear Operations Support & Projects | 2013–2017 | Nuclear operations support; regulatory compliance; operations oversight |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| University of Florida Nuclear Engineering Advisory Board | Member | Not disclosed | Advisory capacity on nuclear engineering |
| Latino Corporate Directors Association | Executive member | Not disclosed | Governance and leadership network participation |
| Public company directorships | None | — | No current or prior public boards listed |
Board Governance
- Committee assignments: Governance, Nominating & Sustainability (GNS); Industrial Operations (IOC) .
- GNS responsibilities include overseeing corporate governance practices, board composition/independence, sustainability/climate strategy, related-person transactions approval, and director compensation recommendations .
- IOC responsibilities include oversight of operational safety and environmental/health/security, nuclear oversight (NRC/INPO), NSRB reports, crisis management, IT/physical security, and cybersecurity program (non-financial controls) including regular executive sessions with the CISO .
- Independence: Listed as independent director .
- Attendance and engagement: In 2024 the Board met seven times; each incumbent director attended at least 75% of aggregate Board/committee meetings; expectations to attend all meetings are codified in Corporate Governance Principles .
- Lead Independent Director: Susan Tomasky; all standing committees other than Executive are chaired by independent directors .
Fixed Compensation
| Component (2024) | Amount ($) | Notes |
|---|---|---|
| Fees Earned or Paid in Cash | 110,000 | Reflects annual retainer and any chair fees pro-rated based on time served; no meeting fees |
| Annual Director Cash Retainer (Schedule) | 120,000 | Current fee schedule for independent directors |
| Committee Chair Fees (Schedule) | 25,000 (GNS/Finance/IOC); 30,000 (Audit/O&CC) | Paid per assignment; Pérez not listed as chair |
| Lead Independent Director (Schedule) | 40,000 | Not applicable to Pérez |
Performance Compensation
| Equity Element | Grant Date | Units | Grant Date Fair Value ($) | Vesting/Notes |
|---|---|---|---|---|
| Annual equity grant (stock units) | May 1, 2024 | 2,579 | 180,040 | Units determined at $69.81 per share; quarterly dividend equivalents credited as additional stock units |
| Options | — | — | — | No option awards |
| Non-Equity Incentive | — | — | — | Not applicable for directors; no non-equity incentive compensation |
No performance metrics (e.g., TSR, EBITDA) are disclosed for director equity grants; compensation consists of cash retainer and stock units per the director fee schedule and compensation table .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None |
| Prior public company boards | None |
| Potential interlocks/conflicts | Governance Committee reviews related-person transactions; no related-person transactions disclosed other than CEO’s family employment; “We do not have any other related person transactions that meet the requirements for disclosure” . |
Expertise & Qualifications
- Nuclear operations and safety leadership (Westinghouse; TVA) .
- Regulatory and compliance understanding relevant to utility operations .
- Supply chain, IT, cyber and physical security experience aligning with IOC oversight .
- Inclusive leadership and human capital management track record .
Equity Ownership
| As of Feb 21, 2025 | Owned Shares (#) | Stock Units/RSUs (#) | Deferred Equity Shares (#) | Beneficial Ownership (#) | % of Class |
|---|---|---|---|---|---|
| Ricardo G. Pérez | — | 2,636 | — | 2,636 | <1% |
- Directors’ stock ownership requirement: Six times annual retainer ($120,000), i.e., $720,000; Pérez is among directors not yet meeting the requirement (joined January 2024) .
Governance Assessment
- Strengths: Independent status; deep nuclear and cybersecurity expertise mapped to IOC and GNS oversight; proactive board governance on sustainability and risk; high alignment via annual equity grant; compliance with outside board limits across directors .
- Alignment and incentives: 2024 compensation skewed to equity ($180,040 equity vs $110,000 cash), supporting long-term alignment; subject to robust stock ownership guidelines .
- Conflicts/related-party exposure: No related-person transactions disclosed for Pérez; Governance Committee administers a formal review/approval process for any such transactions; only disclosed item pertains to CEO’s brother’s employment, with safeguards; no waivers to Standards of Conduct in 2024 .
- Attendance/engagement: Board met seven times; all incumbents met at least 75% attendance threshold; onboarding and education processes in place for new directors .
- Red flags: Not yet at stock ownership guideline given recent appointment; no disclosed pledging, hedging, option repricing, or related-party transactions involving Pérez .