AES Corp (NYSE:AES) Elects Jeffrey Ubben To Company’s Board


AES Corp (NYSE:AES) reported that Jeffrey Ubben, the CEO and Founder of ValueAct Capital, has been elected to company’s Board of Directors. This election is a continuation of the firm’s efforts to enhance shareholder value.

The buzz

Charles Rossotti, the Chairman of AES, reported that they are thrilled to welcome Ubben to company’s Board. His extensive public market experience and exceptional investment management expertise will further improve their strength and expertise. They remain committed to improving shareholder returns and they consider that Ubben will make a notable contribution to that end in a growingly dynamic international energy market that is seeking innovative solutions.

In recent years AES started a transition to become an increasingly sustainable firm by investing in wind, energy storage and solar, and selling coal assets. The company is all set to play a major role in getting new energy solutions to the international and domestic markets it serves. Ubben will also be a member of the Compensation Committee as well as the Financial Audit Committee. AES reported that Ubben is the Chief Executive Officer and Founder of ValueAct Capital. It is an investment company based in San Francisco, with more than $15 billion in AUM.

In an unrelated news, AES reported that its subsidiary The Dayton Power and Light Company reported a new look and improve functionalities on the outage map on Enhancements made to this map comprise better functionality and improved design to enhance the user experience. Tom Raga, the CEO of Dayton Power and Light President, expressed that they have upgraded and enhanced their outage map depending on consumer feedback and best measures within the utility market.

Now, consumers will have the latest information they have obtainable on outages in their regions to make better decisions for their businesses or their family. DP&L clients will gain from the redesigned map in several ways.