Dave Ernsberger
President, S&P Global Energy at SPGI
Executive
About Dave Ernsberger
Dave Ernsberger is President of S&P Global Energy (formerly S&P Global Commodity Insights), leading the division’s Platts benchmarks, research and events; he became co-President of Commodity Insights effective November 1, 2024, assumed sole President in October 2025, and was named President under the new S&P Global Energy brand announced in November 2025 . His prior roles include Head of Market Reporting & Trading Solutions, Head of Oil Content, Editorial Director for Asia (Singapore), and Houston Bureau Chief; he joined Platts in 1996 and launched coverage of Europe’s deregulating gas and electricity markets in 1999 . Education: BA in philosophy and politics (University of Warwick) and MA in international relations (University of Southampton) . Company performance context: in 2024, S&P Global delivered revenue of $14.208B (up 14% YoY), GAAP net income of $3.852B (up 47%), GAAP diluted EPS of $12.35 (up 50%), and returned $4.4B via dividends and buybacks; 2024 TSR was ~13%, in line with the 10-K peer group .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| S&P Global Commodity Insights / Platts | Head of Market Reporting & Trading Solutions | Not disclosed | Managed Platts commodity price benchmarks worldwide, including market reporting, news coverage and exchange relationships across established and emerging markets . |
| Platts | Head of Oil Content; Editorial Director, Asia; Houston Bureau Chief | Not disclosed | Led global content; Asia editorial leadership; U.S. bureau leadership; expanded commodity coverage . |
| Platts | Metals Reporter (London) | Not disclosed | Launched coverage of Europe’s deregulating gas and electricity markets in 1999 . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| — | — | — | No public company directorships or external board roles disclosed in the filings and releases reviewed; public statements reflect SPGI division leadership and knowledge partnership activities led by his business . |
Fixed Compensation
- Program structure for executives combines base salary, annual cash incentives (STIC), and long-term equity (primarily PSUs); pay mix emphasizes variable, incentive-based pay with caps at 200% of target, and PSUs tied to non-GAAP ICP Adjusted EPS over three years .
- Governance features include robust stock ownership requirements, multiple clawback policies, and an anti-hedging/pledging policy prohibiting directors, officers, and designated employees from hedging or pledging company stock .
Performance Compensation
| Component | Metric | Weighting | Target | Actual/Payout | Vesting/Settlement |
|---|---|---|---|---|---|
| Annual STIC (enterprise level) | Non-GAAP ICP Adjusted Revenue; Non-GAAP ICP Adjusted EBITA Margin | Not disclosed | Not disclosed | 2024 enterprise STIC funded at 151.29% of target . | Annual cash, paid based on approved goals; change-in-control payout equals 3-year average, pro-rated to CIC date . |
| Long-Term PSUs | Non-GAAP ICP Adjusted Diluted EPS (3-year cumulative) | Not disclosed | Target grant (max 200%) | 2022 PSU (2022–2024) payout at 40.07% of target . | 3-year cycles; payout up to 200%; CIC conversion to time-vesting RSUs with performance measured per plan (double-trigger) . |
Equity Ownership & Alignment
| Policy/Metric | Detail |
|---|---|
| Executive Stock Ownership Guidelines | Minimum holdings as multiple of base salary: CEO 7x; CFO 4x; Other covered executives 3x; 100% retention of current and net-after-tax shares from RSU/PSU settlements and option exercises until guidelines are met . |
| Guideline Counting Rules | Unvested time-based RSUs count; unvested/unsettled PSUs and unexercised options do not count . |
| Anti-Hedging/Pledging | Directors, officers, and designated employees are prohibited from hedging and pledging transactions related to Company stock . |
| Beneficial Ownership | Dave Ernsberger is not listed among Directors/NEOs in the March 6, 2025 management ownership table; individual holdings for him are not disclosed in the 2025 proxy . |
Employment Terms
| Topic | Key Terms |
|---|---|
| Severance Plans (general) | Senior Executive Severance Plan provides, upon qualifying involuntary termination, base salary continuation for 12 months, lump-sum of six months’ base salary at end of period, and additional 10% of lump-sum in lieu of continued benefits; CEO receives 12 months’ base lump-sum; terms require a release . |
| CIC Severance | Following a change-in-control, for covered NEOs: total severance over 12 months equals base salary plus annual target incentive, with continued benefits; lump-sum at period end equals base + target incentive + 10% in lieu of benefits (double-trigger) . |
| Incentive Awards – CIC Treatment | STIC: pro-rata payment based on average of prior 3 years; RSUs: converted, do not vest at CIC (double-trigger); PSUs: converted to time-vesting RSUs at assumed target or actual performance depending on cycle progress; settlement generally in year following performance period end . |
| Tax Treatment | No gross-ups for CIC excise taxes; potential “cut back” to maximize after-tax outcomes and preserve Company deductibility under IRC §280G . |
| Clawbacks | Dodd-Frank Financial Statement Compensation Recoupment Policy (effective Dec 1, 2023) mandates recovery of incentive comp upon restatement; expanded Group Pay Recovery Policy allows recoupment for material recalculation of metrics, misconduct, or illegal activity; specialized Ratings Pay Recovery Policy applies to Ratings leadership . |
Company Performance Context (Quantitative)
| Metric | FY 2024 |
|---|---|
| Revenue ($USD Billions) | $14.208B |
| GAAP Net Income ($USD Billions) | $3.852B |
| GAAP Diluted EPS ($USD) | $12.35 |
| Capital Returns ($USD Billions) | $4.4B dividends and buybacks |
| Total Shareholder Return (2024) | ~13% (peer group ~13%; S&P 500 ~25%) |
Additional Track Record and Strategic Initiatives
- Division branding and scope: SPGI introduced “S&P Global Energy” as the new name and identity for the Commodity Insights division in Nov 2025; Ernsberger emphasized the division’s role in benchmarks, data, and insights for a diversifying global energy ecosystem .
- Sustainability and emissions: As Co-President, he positioned Commodity Insights as independent knowledge partner for Carbon Measures’ initiative harmonizing product-level emissions accounting and reporting; underscored expertise in sustainability and emissions quantification .
Investment Implications
- Alignment signals: Executive compensation is heavily performance-linked (STIC and PSUs based on ICP Adjusted metrics), with strict clawbacks and anti-hedging/pledging policies—supporting pay-for-performance and discouraging misaligned risk-taking .
- Retention and CIC economics: Double-trigger CIC treatment and no tax gross-ups reduce windfall risk; severance design focuses on continuity while balancing shareholder interests; however, individual severance eligibility and terms for Ernsberger are not disclosed, limiting precision on personal retention risk .
- Ownership visibility: Stock ownership guidelines are robust, but Ernsberger’s personal beneficial holdings are not disclosed in the 2025 proxy—reducing direct “skin-in-the-game” transparency; anti-pledging mitigates collateralization risk .
- Execution and segment leadership: His leadership through rebranding to S&P Global Energy and emissions-accounting initiatives indicates strategic positioning in energy transition data/benchmarks, a potential growth lever tied to SPGI’s broader 2024 performance momentum and multi-year strategy .