Andrew M. Vesey has been the CEO of Pacific Gas and Electric Company (PG&E) since August 2019, stepping in during a crucial time for the company as it emerged from bankruptcy. With a rich background in the utilities sector, he...

Andrew M. Vesey has been the CEO of Pacific Gas and Electric Company (PG&E) since August 2019, stepping in during a crucial time for the company as it emerged from bankruptcy. With a rich background in the utilities sector, he previously led AGL Energy in Australia and held senior roles at The AES Corporation and Entergy Corporation. His experience spans over three decades in the energy field, emphasizing safety and customer satisfaction as key performance indicators. During his leadership at PG&E, Vesey's compensation reflects significant performance-based incentives, including a staggering bonus of over $3.4 million in 2023. His leadership journey is marked by navigating complex regulatory environments and focusing on transforming PG&E's operational framework toward accountability and safety.

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1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other PG&E CEOs

P

Andrew M. Vesey

CEO of PG&E

Education

Not disclosed

Field of Expertise

Energy & Utilities - Utilities

Sector of Economy

Utilities

Born

January 1, 1955 - 70 years ago

CEO of PG&E for

5 years 9 months (Aug 2019 - Present)

Previous Experience

Managing Director and Chief Executive Officer of AGL Energy in Australia

Rivals

Competitors/colleagues of Andrew M. Vesey

E

Pedro J. Pizarro

CEO of Edison International

2023 Compensation

Stock

$6.08M

Salary

$1.40M

Bonus

$1.85M

Other

$29.80K

Total Holdings

$11.29M

Holdings

See how much did Andrew M. Vesey make over time.

Andrew M. Vesey's stance on his PG&E holdings shows significant engagement in the company's performance. Back in late 2019, just after stepping into his CEO role, he saw substantial growth in his holdings, reflecting the company's recovery narrative. In 2019,...

Andrew M. Vesey's stance on his PG&E holdings shows significant engagement in the company's performance. Back in late 2019, just after stepping into his CEO role, he saw substantial growth in his holdings, reflecting the company's recovery narrative. In 2019, his holdings were valued around $2.78 million and steadily increased through 2021, reaching as high as $5.14 million by early 2021. However, they fluctuated down after that, decreasing to $3.11 million by late 2023. These ups and downs were influenced by the market's response to PG&E's restructuring efforts, showcasing both his risk and commitment to the company's future.

No data yet.

Insider Trading

See recent insider trades of Andrew M. Vesey.

AES

37,494 shares

AES

Feb 21, 2014

Received

AES

29,096 shares

AES

Feb 15, 2013

Received

AES

34,530 shares

AES

Dec 7, 2012

Received

AES

$100.63K

AES at $11.98/share

May 17, 2012

Purchase

AES

40,461 shares

AES

Feb 17, 2012

Received

AES

22,360 shares

AES

Feb 18, 2011

Received

Compensation History

See how much did Andrew M. Vesey make over time.

Andrew M. Vesey's compensation as PG&E's CEO is deeply aligned with the company's performance, reflecting a pay structure designed to motivate and reward results. In 2023, his total package constitutes a base salary of $1.4 million and a bonus of about $3.4 million, which was notably tied to the performance metrics of safety and customer satisfaction. This performance-based system mirrors the focus on aligning executive pay with the company’s goals to enhance stakeholder trust. His vested stock awards amounted to around $24.3 million, illustrating his long-term commitment to PG&E’s success. Previous years saw even higher total compensations, peaking at over $14 million in 2022.

Year

2023

Total Compensation

$29.18M

Salary

$1.40M

Board Justification

The compensation philosophy emphasizes performance-based pay, aligning executive compensation with company performance and shareholder interests, with a significant portion of compensation at risk based on performance metrics.

Bonus

$3.45M

Board Justification

The short-term incentive plan award based on performance metrics for 2023, certified at 170.1% of target.

Other

$0.00

Board Justification

No other compensation reported for 2023.

Restricted Stock

$24.32M(1.54M RSU)

Board Justification

The value of stock awards that vested in 2023, including RSUs and PSUs, based on performance metrics achieved during the year.

Performance Metrics

Performance metrics include safety, customer satisfaction, financial performance, and individual contributions.

Other PG&E CEOs

Here are other CEOs of PG&E

William D. Johnson

Ex-CEO of PG&E

May 2019 - June 2020

William L. Smith

CEO of PG&E

June 2020 - Present