Andrés Gluski
Chief Executive Officer
Executive
14 yr
24 reports
The AES Corporation ·AES
President role reinstated, splitting CEO and operating control
Energy · Fortune #343 · Hybrid structure · 9K employees · Arlington, Virginia
View as of:
5
CEO span
↓ tighter than peers (avg 9)
3
Avg span
moderate
3
Max depth
3 levels
4.2 yr
Avg tenure
↓ 1.8yr from FY2024
75%
Internal hires
↑ above industry avg
Consolidated financials FY2025 · period end 2025-12-31 · 10-K
Revenue
$12.2B
Net income
$910M
Total assets
$51.8B
Shares out
713M
Sourced from The AES Corporation DEF 14A · filed 2026-03-20 ↗ View on SEC
Interactive org chart
The AES Corporation organizational chart
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President role reinstated, splitting CEO oversight from operations. This page maps AES’s 2026 leadership structure, executive reporting lines, recent officer changes, and how the hybrid enterprise model compares with peer utilities.
What to model
Use the chart to test org decisions, not just view reporting lines
Start with the public baseline, then use the scenario views and source-backed changes to ask what happens when leadership, span, or team ownership shifts.
Latest signal Bernerd Da Santos changed role as Senior Strategic Advisor
Transitioned from EVP & President, US & Renewables to advisory role effective April 16, 2026.
Source · See change logScenario views in the chart
- Add Chief AI Officer Introduce a Chief AI Officer reporting to the CEO to centralize analytics, grid optimization, and automation.
- Shift COO under President Move the COO to report to the President, clarifying the President as head of day-to-day operations.
Atlas work this supports
- Connect Workday or UKG Get these analytics for YOUR org — tenure, span of control, headcount, automatically from your HRIS.
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- Plan a Reorg Use this as a starting point. Model scenarios, compare structures, present options to your board.
The people
Who's running this
6 executives identified as Named Executive Officers in the most recent SEC proxy. Bar length scales with tenure.
internal
Ricardo Fal
President
Executive
0 yr
12 reports
internal
Juan Ignacio Rubiolo
Executive Vice President & Chief Operating Officer
Operations
0 yr
10 reports
Stephen Coughlin
Executive Vice President & Chief Financial Officer
Finance
6 yr
6 reports
Paul L. Freedman
Executive Vice President, General Counsel & Corporate Secretary
Legal
7 yr
4 reports
internal
Bernerd Da Santos
Senior Strategic Advisor & Chairman, AES Clean Energy Board
Strategy
0 yr
0 reports
The pay
Executive compensation
From the most recent DEF 14A Summary Compensation Table. 5 named executive officers disclosed. Bar length scales with total compensation.
Andrés Gluski $9.2M
- Base salary
- $1.24M
- Bonus
- $5.02M
- Stock awards
- $2.57M
- Other
- $325K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
Stephen Coughlin $3.2M
- Base salary
- $645K
- Bonus
- $89K
- Stock awards
- $1.41M
- Non-equity incentive
- $890K
- Other
- $125K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
Juan Ignacio Rubiolo $3.3M
- Base salary
- $550K
- Bonus
- $1.17M
- Stock awards
- $759K
- Other
- $842K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
Bernerd Da Santos $3.0M
- Base salary
- $663K
- Bonus
- $1.25M
- Stock awards
- $915K
- Other
- $152K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
Ricardo Fal $2.7M
- Base salary
- $555K
- Bonus
- $115K
- Stock awards
- $1.17M
- Other
- $97K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
The skin in the game
Beneficial ownership
Insider stock holdings and the company's ownership requirements for executives and directors. Disclosed in the most recent DEF 14A.
Stock ownership requirements
5×Director cash retainer
Non-employee directors are expected to hold at least five times annual board retainer in equity.
| Holder | Shares | % of class |
|---|---|---|
| Andrés R. Gluski | 2.21M | <1% |
| Stephen Coughlin | 215K | <1% |
The businesses
How The AES Corporation divides the work
4 divisions report into the group CEO. Tile size scales with estimated headcount.
Energy Infrastructure
4K employees
EVP & COO (Juan Ignacio Rubiolo)
Owns generation, renewables, storage, and infrastructure operations across AES markets.
U.S. Utilities
3K employees
President (Ricardo Fal)
Manages regulated electric utilities in the United States.
Finance
600 employees
EVP & CFO (Stephen Coughlin)
Oversees corporate finance, accounting, treasury, and capital allocation.
Legal & Governance
250 employees
EVP, General Counsel (Paul L. Freedman)
Handles legal, compliance, corporate governance, and regulatory matters.
The thesis
Why this org is unusual
President role reinstated in 2026, creating a clear split between CEO oversight and day‑to‑day operating control.
The diagram shows Ricardo Fal newly elevated to President while Andrés Gluski remains CEO, with the COO and CFO continuing to report directly to the CEO rather than through the President. This creates an unusually senior President role without fully interposing it between the CEO and core operators.
Operational responsibility is concentrated in the COO, who also holds the Energy Infrastructure SBU presidency, while finance retains a classic centralized structure under the CFO, including accounting and U.S. utilities finance. The legal function remains a direct CEO report, reinforcing board and governance independence during a pending take‑private transaction.
Overall, AES operates a hybrid enterprise structure: centralized corporate control combined with strategic business units, adjusted in 2026 to accommodate succession planning and transaction complexity rather than a wholesale reorganization.
- President role reintroduced in 2026
- COO simultaneously leads Energy Infrastructure SBU
- Legal reports directly to CEO during merger period
The comparison
How The AES Corporation stacks up
Compared with other large regulated and renewable utilities, AES stands out for reinstating a President role late in the CEO’s tenure. Peers such as Duke Energy and NextEra typically run with CEO‑centric models where COOs or business presidents funnel through a single operating head. AES’s structure is flatter than …
C-suite size
Reporting depth
The AES Corporation
3 levels
5 levels
5 levels
6 levels
Iberdrola
6 levels
Engie
6 levels
Avg C-suite tenure
Has COO / Has CAIO
The AES Corporation ✓ COO — no CAIO
Iberdrola — no COO — no CAIO
Engie ✓ COO ✓ CAIO
Current signals
What changed recently
AES reinstated the President role in March 2026, elevating Ricardo Fal and reshaping operating leadership.
- reorgBernerd Da Santos Senior Strategic Advisor
Transitioned from EVP & President, US & Renewables to advisory role effective April 16, 2026.
Source - promotedRicardo Fal President
Appointed President effective March 2, 2026, separating the President and CEO roles.
Source - promotedJuan Ignacio Rubiolo EVP & Chief Operating Officer
Named COO effective March 2, 2026 following Fal’s promotion.
Source
Leadership Timeline
Year-over-year executive structure based on SEC proxy and annual filings.
FY2025
DEF 14A filed 2026-03-20
- CEO
- Andrés Gluski
- CEO span
- 4
- C-suite
- 5
- Avg tenure
- 5.1 yr
President role separated from CEO for the first time in over a decade.
Named executive officers (5)
- Andrés Gluski - CEO since 2011
- Stephen Coughlin - EVP & CFO since 2019
- Juan Ignacio Rubiolo - EVP & COO since 2026
- Bernerd Da Santos - EVP & President, US & Renewables
- Ricardo Fal - President since 2026
FY2024
DEF 14A filed 2025-03-19
- CEO
- Andrés Gluski
- CEO span
- 4
- C-suite
- 5
- Avg tenure
- 6 yr
CEO also held President title; no separate President role.
Named executive officers (5)
- Andrés Gluski - CEO & President since 2011
- Stephen Coughlin - EVP & CFO since 2019
- Juan Ignacio Rubiolo - EVP since 2023
- Bernerd Da Santos - EVP & President, US & Renewables
- Ricardo Fal - EVP & COO since 2023
FY2023
DEF 14A filed 2024-03-21
- CEO
- Andrés Gluski
- CEO span
- 4
- C-suite
- 5
- Avg tenure
- 6.8 yr
More consolidated executive roles prior to 2026 restructuring.
Named executive officers (5)
- Andrés Gluski - CEO & President since 2011
- Stephen Coughlin - EVP & CFO since 2019
- Juan Ignacio Rubiolo - SVP since 2022
- Bernerd Da Santos - EVP & President, US & Renewables
- Other NEO - EVP
Year-over-year changes
2026 introduced a standalone President role, increasing CEO span.
- CEO span: 4 → 5
- C-suite size: 5 → 5
- Avg tenure: 6 → 5.1 yr
- retitled Ricardo Fal - President (was EVP & COO) (DEF 14A, 2026-03-20)
Leadership composition remained stable with gradual tenure aging.
- CEO span: 4 → 4
- C-suite size: 5 → 5
- Avg tenure: 6.8 → 6 yr
The board
Board of directors
2 directors. 1 of 2 independent (50%). Source: most recent DEF 14A.
John B. Morse, Jr.
Chair Lead Indep. Independent
Former CEO, Global Infrastructure
Andrés R. Gluski
Inside
CEO, AES
The board, organized
Board committees
2 standing committees. Audit and Compensation must be 100% independent under SEC rules; the rest vary.
Audit Committee
100% independent
- John B. Morse, Jr.
Compensation Committee
100% independent
- John B. Morse, Jr.
Frequently Asked Questions
Who is the CEO of AES?
Andrés Gluski has served as Chief Executive Officer of AES since September 2011.
What type of organizational structure does AES use?
AES uses a hybrid enterprise structure combining centralized corporate functions with strategic business units.
How many direct reports does AES's CEO have?
As of 2026-Q2, the CEO has five direct executive reports.
How has AES's leadership changed recently?
In March 2026, AES reinstated the President role and promoted Ricardo Fal, alongside appointing a new COO.
Who reports directly to AES's CEO?
The President, COO, CFO, General Counsel, and a senior strategic advisor report directly to the CEO.
Sources
- 8-K Filing, Apr 2026
- 8-K Filing, Mar 2026
- SEC EDGAR: The AES Corporation DEF 14A Proxy Statement
- SEC EDGAR: The AES Corporation 10-K Annual Report
Reference
Cite this page
If you reference this page in research, analysis, or news writing, use one of the formats below. Citation includes the SEC filing source where applicable.
APA 7th
Creately. (2026). The AES Corporation organizational structure. Creately. Retrieved , from https://creately.com/org-chart/fortune-500/aes/MLA 9th
"The AES Corporation Organizational Structure." Creately, April 1, 2026, https://creately.com/org-chart/fortune-500/aes/. Accessed .Chicago 17
Creately. "The AES Corporation Organizational Structure." Last modified April 1, 2026. https://creately.com/org-chart/fortune-500/aes/.Original SEC source View on SEC ↗
The AES Corporation. DEF 14A. Filed 2026-03-20. U.S. Securities and Exchange Commission. https://www.sec.gov/Archives/edgar/data/874761/000087476126000070/aes-20260320.htmPermanent URL: https://creately.com/org-chart/fortune-500/aes/ · last updated 2026-04-01