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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20349
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 5, 2005
THE AES CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 001-12291 54-1163725
(State or other jurisdiction of (Commission File Number) (I.R.S Employer Identification No.)
incorporation)
1001 North 19th Street, 20th Floor
Arlington, Virginia 22209
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code:
(703) 522-1315
NOT APPLICABLE
(Former Name or Former Address, if changed since last report)
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Item 1.01 Entry into a Material Definitive Agreement.
As of May 4, 2005, William Luraschi, formerly General Counsel
for The AES Corporation ("AES"), has been appointed to lead Corporate
Development and Strategy for AES. Mr. Luraschi will remain an Executive Vice
President and a member of the Executive Office. In connection with this
appointment, Mr. Luraschi has received a retention grant of 59,079 restricted
stock units under The AES Corporation 2003 Long Term Compensation Plan (the
"Plan"). The grant is scheduled to vest one third per year for three years and
will be paid out in accordance with terms determined by the Board of Directors
pursuant to the Plan. In addition, Mr. Luraschi's annual base salary has been
increased by $30,000 to $460,000.
Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers.
On May 5, 2005, AES issued a press release announcing a new
regional organizational structure which includes, among other changes, the
appointment, effective as of May 4, 2005, of four new regional presidents.
David Gee (50) was appointed to serve as regional President
of AES's North America group. Mr. Gee served as Vice President of Strategy for
AES since 2004. Prior to joining AES, he served as Vice President -- Strategic
Planning at PG&E Corporation from 2002 - 2003 and was a consultant at McKinsey
and Company from 1985 - 2000. AES has not entered into an employment agreement
with Mr. Gee in connection with Mr. Gee's appointment.
Andres Gluski (47) was appointed to serve as regional
President of AES's Latin America group. Mr. Gluski joined AES in 1998 and has
since held several senior leadership positions including Senior Vice President,
Caribbean and Central America and Chairman and CEO of Electricidad de Caracas, a
subsidiary of AES. AES has not entered into an employment agreement with Mr.
Gluski in connection with Mr. Gluski's appointment.
Haresh Jainsinghani (38) was appointed to serve as regional
President of AES's Asia group. Mr. Jaisinghani joined AES in 1994 and has since
held several senior leadership positions, including Officer and Vice President
of AES in Asia, where he managed operations and business development. AES has
not entered into an employment agreement with Mr. Jainsinghani in connection
with Mr. Jainsinghani's appointment.
Shazhad Qasim (50) was appointed to serve as regional
President of AES's Europe, Africa and the Middle East group. Mr. Qasim joined
AES in 1992 and has since held senior leadership positions, including Senior
Vice President and General Manager of AES in the Middle East and North Africa,
where he was responsible for business development and operations. AES has not
entered into an employment agreement with Mr. Qasim in connection with Mr.
Qasim's appointment.
As part of the new organizational structure, John Ruggirello,
formerly Chief Operating Officer - Contract Generation and acting COO-
Integrated Utilities, will remain Executive Vice President and a member of the
Executive Office.
Item 8.01 Other Events.
On May 5, 2005, AES issued a press release announcing a new
regional organizational structure. A copy of the press release is set forth as
exhibit 99.1 to this corporate report and is incorporated by reference into this
Item 8.01.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
The AES Corporation
Date: May 6, 2005 By: /s/ Vincent W. Mathis
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Name: Vincent W. Mathis
Title: Assistant General Counsel
INDEX TO EXHIBITS
Exhibit No. Description
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99.1 Press Release dated May 5, 2005