Jeffrey Ubben Joins AES Board of Directors
January 18 2018 - 7:00AM
Business Wire
The AES Corporation (NYSE: AES) announced today that Mr. Jeffrey
Ubben, Founder and Chief Executive Officer of ValueAct Capital, has
been appointed to AES’ Board of Directors, effective immediately.
This appointment is a continuation of the Company’s efforts to
create shareholder value.
“We are delighted to welcome Jeff to AES’ Board. Jeff’s
exceptional investment management track record and extensive public
market experience will further enhance our expertise and strength,”
said Charles Rossotti, AES Chairman. “We remain committed to
enhancing shareholder returns and we believe that Jeff will make a
significant contribution to that end in an increasingly dynamic
global energy market that is demanding innovative solutions.”
“In recent years AES began a transition to become a more
sustainable company by selling coal assets and investing in wind,
solar and energy storage,” said Jeff Ubben, AES Director. “AES is
well positioned to play a leading role in bringing new energy
solutions to the domestic and international markets it serves.”
Mr. Ubben will serve on the Compensation Committee and the
Financial Audit Committee.
Mr. Ubben is a Founder and the Chief Executive Officer of
ValueAct Capital, an investment firm based in San Francisco,
California with over $15 billion in assets under management. Mr.
Ubben is a Director of Twenty-First Century Fox Inc., and is a
former Director of Gartner Group, Inc., Misys plc, Sara Lee Corp.,
Valeant Pharmaceuticals International and Willis Towers Watson plc,
as well as other public and private companies. Mr. Ubben serves on
the boards of Duke University, Northwestern University and the E.O.
Wilson Biodiversity Foundation, and formerly served as Chair of the
national board of the Posse Foundation.
About AES
The AES Corporation (NYSE: AES) is a Fortune 200 global power
company. We provide affordable, sustainable energy to 16 countries
through our diverse portfolio of distribution businesses as well as
thermal and renewable generation facilities. Our workforce of
18,000 people is committed to operational excellence and meeting
the world’s changing power needs. Our 2016 revenues were $14
billion and we own and manage $36 billion in total assets. To
learn more, please visit www.aes.com. Follow AES on Twitter
@TheAESCorp.
AES Safe Harbor Disclosure
This news release contains forward-looking statements within the
meaning of the Securities Act of 1933 and of the Securities
Exchange Act of 1934. Such forward-looking statements include, but
are not limited to, those related to future earnings, growth and
financial and operating performance. Forward-looking statements are
not intended to be a guarantee of future results, but instead
constitute AES’ current expectations based on reasonable
assumptions. Forecasted financial information is based on certain
material assumptions. These assumptions include, but are not
limited to, our accurate projections of future interest rates,
commodity price and foreign currency pricing, continued normal
levels of operating performance and electricity volume at our
distribution companies and operational performance at our
generation businesses consistent with historical levels, as well as
achievements of planned productivity improvements and incremental
growth investments at normalized investment levels and rates of
return consistent with prior experience.
Actual results could differ materially from those projected in
our forward-looking statements due to risks, uncertainties and
other factors. Important factors that could affect actual results
are discussed in AES’ filings with the Securities and Exchange
Commission (the “SEC”), including, but not limited to, the risks
discussed under Item 1A “Risk Factors” and Item 7: Management’s
Discussion & Analysis in AES’ 2016 Annual Report on Form 10-K
and in subsequent reports filed with the SEC. Readers are
encouraged to read AES’ filings to learn more about the risk
factors associated with AES’ business. AES undertakes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Any Stockholder who desires a copy of the Company’s 2016 Annual
Report on Form 10-K dated on or about February 27, 2017 with the
SEC may obtain a copy (excluding Exhibits) without charge by
addressing a request to the Office of the Corporate Secretary, The
AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203.
Exhibits also may be requested, but a charge equal to the
reproduction cost thereof will be made. A copy of the Form 10-K may
be obtained by visiting the Company’s website at www.aes.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20180118005364/en/
The AES CorporationInvestor Contact:Ahmed Pasha,
703-682-6451orMedia Contact:Amy Ackerman, 703-682-6399
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