8-KLeadership ChangesExhibits & Filings

CMS ENERGY CORP 8-K Report, Executive Changes (Jan 18, 2019)

Filed January 18, 2019For Securities:CMSCMS-PCCMSACMSCCMSD

Summary

CMS Energy Corporation (CMS) filed an 8-K on January 18, 2019, primarily to announce a significant change in its Board of Directors. Suzanne F. Shank was elected to the Boards of both CMS Energy and its principal subsidiary, Consumers Energy Company. Her appointment to the Audit and Finance Committees indicates a focus on financial oversight and strategy. Shank brings extensive experience from her role as CEO and Chairwoman of Siebert Cisneros Shank & Co., L.L.C., a prominent investment bank with a strong track record in managing large-scale financial transactions. This board expansion and appointment of a seasoned financial professional suggest a strategic move to enhance corporate governance and leverage external expertise. Investors should note that Shank has no prior relationship with the company, and her compensation will align with existing director policies, including a restricted stock grant. The filing also references an accompanying news release for further details.

Key Highlights

  • 1Suzanne F. Shank elected to the Boards of Directors of CMS Energy and Consumers Energy, effective January 18, 2019.
  • 2Shank appointed to serve on the Audit and Finance Committees of both Boards.
  • 3CMS Energy and Consumers Energy increased authorized board membership from ten to eleven members.
  • 4Shank brings substantial experience as CEO and Chairwoman of Siebert Cisneros Shank & Co., L.L.C., an investment bank.
  • 5No prior relationship exists between Shank and CMS Energy or Consumers Energy.
  • 6Shank will receive a restricted stock grant and be compensated according to existing director compensation plans.
  • 7The filing includes Exhibit 99.1, a CMS Energy News Release dated January 18, 2019.

Frequently Asked Questions

Suzanne F. Shank is a newly elected director for CMS Energy and Consumers Energy. She has served as the chief executive officer and co-founder of Siebert Cisneros Shank & Co., L.L.C. since 1996 and as its chairwoman since 2015. Her firm is a full-service investment bank with extensive experience in managing municipal bond, corporate bond, and equity transactions.

Ms. Shank has been appointed to serve on the Audit and Finance Committees of both the CMS Energy and Consumers Energy Boards of Directors.

Ms. Shank will receive a restricted stock grant upon her election and will be compensated in accordance with the existing director compensation policies, as described in the proxy statement for CMS Energy’s Annual Meeting of Shareholders held on May 4, 2018.

The authorized membership of both the CMS Energy and Consumers Energy Boards was increased from ten to eleven members prior to Ms. Shank's election, accommodating her appointment.