8-KLeadership ChangesOther Events

DTE ENERGY CO 8-K Report, Executive Changes (Jul 2, 2007)

Filed July 2, 2007For Securities:DTEDTKDTBDTGDTW

Summary

DTE Energy Company's 8-K filing dated July 2, 2007, primarily details significant changes within its Board of Directors and executive leadership. The company announced the election of two new independent directors, W. Frank Fountain and Ruth G. Shaw, expanding the Board's size to 13 members. These appointments bring valuable external expertise in public affairs, policy, and the nuclear energy sector, respectively, enhancing the Board's oversight capabilities. Additionally, the filing announces the appointment of Gerardo Norcia as Group President for DTE Energy Company. Mr. Norcia's expanded role consolidates oversight of all utility gas operations and non-utility gas pipeline, processing, and storage activities, reflecting his growing importance within the company's energy operations. These leadership changes signal strategic moves to strengthen governance and operational management.

Key Highlights

  • 1DTE Energy expanded its Board of Directors from 11 to 13 members with the election of two new independent directors.
  • 2W. Frank Fountain, Senior Vice President — External Affairs and Public Policy at DaimlerChrysler AG, was appointed as a new director.
  • 3Ruth G. Shaw, retired Group Executive, Public Policy and President, Duke Nuclear at Duke Energy Corporation, was appointed as a new director, effective January 1, 2008.
  • 4Both new directors, Mr. Fountain and Dr. Shaw, have been determined to be independent under NYSE listing standards and company guidelines.
  • 5Gerardo Norcia was appointed Group President — DTE Energy Company, overseeing all utility and non-utility gas operations.
  • 6New directors will receive 1,000 shares of restricted stock each under the company's Long-Term Incentive Plan.
  • 7The filing includes a press release dated July 2, 2007, as an exhibit announcing these changes.

Frequently Asked Questions

The filing announces the election of two new independent directors, W. Frank Fountain and Ruth G. Shaw, and the appointment of Gerardo Norcia as Group President of DTE Energy Company. The Board's size also increased from 11 to 13 members.

W. Frank Fountain brings experience in external affairs and public policy from his role at DaimlerChrysler. Ruth G. Shaw, who joins in January 2008, has a background in public policy and nuclear energy operations from her tenure at Duke Energy.

In connection with their director roles, both Mr. Fountain and Dr. Shaw will receive 1,000 shares of restricted stock under DTE Energy's 2006 Long-Term Incentive Plan. These shares will vest three years from the grant date and require no payment from the recipients.

Gerardo Norcia has been appointed Group President — DTE Energy Company. He will be responsible for all utility gas operations, as well as non-utility gas pipelines, processing, and storage activities.