8-KLeadership ChangesExhibits & Filings

DTE ENERGY CO 8-K Report, Executive Changes (Jun 20, 2019)

Filed June 20, 2019For Securities:DTEDTKDTBDTGDTW

Summary

DTE Energy Company (DTE) announced a significant change in its Board of Directors with the election of Gary Torgow as a new director, effective June 20, 2019. Mr. Torgow brings substantial experience, having served as Chairman of Chemical Financial Corporation since 2015 and previously as Chairman of Talmer Financial Corporation from 2010 to 2015. His appointment is considered important as the Board has determined he meets the independence requirements set by the New York Stock Exchange and DTE Energy's own standards. Investors may find this appointment relevant due to the independent director's role in corporate governance and oversight. Mr. Torgow's compensation will include 1,000 shares of restricted stock, vesting over three years, and participation in the company's standard non-employee director compensation and benefit programs. The company has also filed a press release as an exhibit to this 8-K detailing this announcement.

Key Highlights

  • 1Gary Torgow elected as a new independent director to the Board.
  • 2Mr. Torgow has prior experience as Chairman of Chemical Financial Corporation and Talmer Financial Corporation.
  • 3The Board has confirmed Mr. Torgow meets independence standards.
  • 4Mr. Torgow will receive 1,000 shares of restricted stock vesting over three years as compensation.
  • 5He will participate in the company's existing compensation and benefit programs for non-employee directors.
  • 6No undisclosed arrangements exist regarding his selection as a director.
  • 7Mr. Torgow is not involved in any Section 404(a) Regulation S-K reportable transactions with DTE Energy.

Frequently Asked Questions

Gary Torgow has been elected as a new director to the DTE Energy Board. He brings significant financial industry experience, having served as Chairman of Chemical Financial Corporation since 2015 and previously as Chairman of Talmer Financial Corporation. His appointment is intended to strengthen the Board's expertise and governance.

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

Mr. Torgow will receive 1,000 shares of restricted stock, which will vest three years from June 21, 2019. He will also participate in the company's standard compensation and benefit programs available to non-employee directors.

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