AES Corporation

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The AES Corporation
Public
S&P 500 Component
Traded as NYSE: AES
Industry Energy
Founded January 28, 1981
Founder Roger Sant Dennis Bakke
Headquarters Arlington, Virginia, U.S.
Area served
 Worldwide
Key people
 Charles Rossotti, ChairmanUnited States Andres Gluski, President and CEOVenezuela
Products Electricity
Natural gas
Revenue Increase US$17.274 Billion (FY 2011)[1]
Increase US$1.541 Billion (FY 2011)[1]
Increase US$58 Million (FY 2011)[1]
Total assets Decrease US$45.333 Billion (FY 2011)[1]
Total equity Increase US$5.946 Billion (FY 2011)[1]
Number of employees
 27,000 (Dec 2011)[1]
Website AES.com

The AES Corporation is a Fortune 200 company that generates and distributes electrical power. AES is headquartered in Arlington, Virginia, and is one of the world's leading power companies, generating and distributing electric power in 27 countries and employing 27,000 people worldwide.

History

The company was founded on January 28, 1981, as Applied Energy Services[2] by Roger Sant and Dennis Bakke who met in the Nixon/Ford Administration as appointees in the Federal Energy Administration. The company was initially a consulting firm; it became AES Corporation, which went public in 1991. Sant was Chairman, CEO, and President and Bakke was Executive Vice President until 1987 when Bakke became President. Bakke became CEO in 1994 until he resigned in 2002. Sant remained as Executive Chairman until 2003 and as a member of the board until 2006.

Bakke and Sant expanded AES at a breakneck pace, building power plants in 29 countries and expanding its staff from 1,400 to 32,000 employees. At the same time, they advocated a decentralized management system, promoting social responsibility over profits.

After the collapse of Enron, another energy giant, in 2002, AES faced a liquidity crisis and Bakke resigned. Paul Hanrahan was appointed President and CEO and served for 10 years as the Company stabilized. In 2012 he resigned and Andres Gluski was named President and CEO to the present.

In fiscal 2014 AES' total revenue was $17.274 billion.[1]

Subsidiaries

References

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External links


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