8-KLeadership ChangesExhibits & Filings

DTE ENERGY CO 8-K Report, Executive Changes (Jun 14, 2012)

Filed June 14, 2012For Securities:DTEDTKDTBDTGDTW

Summary

DTE Energy Company (DTE) announced on June 14, 2012, the election of James B. Nicholson to its Board of Directors, effective June 15, 2012. Mr. Nicholson, who serves as President and CEO of PVS Chemicals, Inc., will fill the vacancy left by the retirement of John E. Lobbia. The company has confirmed that Mr. Nicholson meets the independence criteria set forth by the New York Stock Exchange and DTE's own standards, and there are no undisclosed arrangements or related-party transactions concerning his appointment. As part of his compensation, Mr. Nicholson will receive 1,000 shares of restricted stock under the Company's 2006 Long Term Incentive Plan, vesting three years from his appointment, with no purchase price required. He will also participate in the standard compensation and benefit programs offered to non-employee directors. This board refreshment and the associated compensation are key details for investors to note.

Key Highlights

  • 1James B. Nicholson elected to the Board of Directors, effective June 15, 2012.
  • 2Nicholson's appointment fills a vacancy created by the retirement of John E. Lobbia.
  • 3The company confirms Nicholson meets independence standards (NYSE and DTE's own).
  • 4No undisclosed arrangements or related-party transactions involving Nicholson's appointment.
  • 5Nicholson to receive 1,000 restricted shares vesting in three years as part of director compensation.
  • 6Nicholson will participate in existing non-employee director compensation and benefit programs.

Frequently Asked Questions

James B. Nicholson has been elected to the Board of Directors of DTE Energy, effective June 15, 2012. He also serves as the President and CEO of PVS Chemicals, Inc.

Mr. Nicholson was appointed to fill a vacancy on the Board of Directors created by the retirement of John E. Lobbia on May 3, 2012.

Mr. Nicholson will receive 1,000 shares of restricted stock that vest three years from June 15, 2012, with no required consideration. He will also participate in DTE Energy's standard compensation and benefit programs for non-employee directors.

Yes, the Board of Directors has determined that Mr. Nicholson is an independent director based on New York Stock Exchange listing standards and the Company's own Categorical Standards for Director Independence.