8-KLeadership ChangesExhibits & Filings

DTE ENERGY CO 8-K Report, Executive Changes (Jun 20, 2013)

Filed June 20, 2013For Securities:DTEDTKDTBDTGDTW

Summary

DTE Energy Company (DTE) announced the election of a new independent director, David A. Thomas, to its Board of Directors, effective June 21, 2013. Mr. Thomas, Dean and Professor at Georgetown University School of Business, fills a vacancy left by a prior director's retirement. His appointment is intended to enhance the board's expertise and governance. The company has confirmed Mr. Thomas meets all independence standards and has no disqualifying arrangements or transactions with DTE Energy. As compensation for his service, Mr. Thomas will receive 1,000 restricted shares of DTE Energy stock, which will vest over three years from his start date. He will also participate in the standard compensation and benefit programs available to non-employee directors, as detailed in the company's 2013 proxy statement. This strategic addition to the board signifies DTE's commitment to strong corporate governance and diverse leadership.

Key Highlights

  • 1DTE Energy elected David A. Thomas as a new independent director, effective June 21, 2013.
  • 2Mr. Thomas is the Dean and Professor at Georgetown University School of Business.
  • 3His appointment fills a vacancy on the Board of Directors.
  • 4The company confirmed Mr. Thomas meets all independence criteria under NYSE and DTE's standards.
  • 5Mr. Thomas will receive 1,000 restricted DTE Energy shares as compensation, vesting over three years.
  • 6He will also participate in other non-employee director compensation and benefit programs.

Frequently Asked Questions

David A. Thomas is the Dean and Professor at Georgetown University School of Business. He was elected as a new independent director to fill a vacancy created by the retirement of a previous board member. His appointment is intended to bring valuable expertise and contribute to the company's governance.

Yes, the DTE Energy Board of Directors has determined that Mr. Thomas is an independent director under both the New York Stock Exchange listing standards and the Company's own Categorical Standards for Director Independence.

Mr. Thomas will receive 1,000 shares of restricted stock, which will vest three years from his effective start date of June 21, 2013. He will also participate in the company's other compensation and benefit programs for non-employee directors.

No, the filing states there are no arrangements between Mr. Thomas and any other person for his selection as director, nor is he a party to any transactions subject to Section 404(a) of Regulation S-K involving DTE Energy or its subsidiaries.