8-KLeadership ChangesExhibits & Filings

DTE ENERGY CO 8-K Report, Executive Changes (Jun 26, 2023)

Filed June 26, 2023For Securities:DTEDTKDTBDTGDTW

Summary

DTE Energy Company announced a significant addition to its Board of Directors with the election of Deborah L. Byers, a retired partner from Ernst & Young LLP, effective June 22, 2023. Ms. Byers brings extensive experience, having served as Americas Industry Leader at EY, and has been deemed an independent director by the Board under NYSE and company standards. Her appointment is a strategic move to enhance board oversight and leverage her financial expertise. Ms. Byers' compensation includes an award of 1,000 restricted shares of DTE Energy stock, which will vest over three years, and participation in the standard non-employee director compensation and benefit programs. This move signifies the company's commitment to strengthening its governance structure. Investors should view this as a positive step towards maintaining robust oversight and strategic direction.

Key Highlights

  • 1DTE Energy elected Deborah L. Byers as a new independent director to its Board of Directors.
  • 2Ms. Byers has substantial experience, having retired as a partner from Ernst & Young LLP where she was Americas Industry Leader.
  • 3The Board has determined Ms. Byers meets independence standards under NYSE listing rules and the Company's Categorical Standards.
  • 4Ms. Byers will receive 1,000 restricted shares of DTE Energy stock as part of her compensation, vesting over three years.
  • 5She will also participate in the company's existing compensation and benefit programs for non-employee directors.
  • 6There are no disclosed arrangements or transactions between Ms. Byers and DTE Energy that require further disclosure under Regulation S-K.

Frequently Asked Questions

Deborah L. Byers, a retired partner from Ernst & Young LLP, where she held the position of Americas Industry Leader, has been elected as a new director.

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

Ms. Byers will receive 1,000 shares of restricted stock, which will vest over three years from her appointment date. She will also participate in the company's standard compensation and benefit programs for non-employee directors.

The filing indicates there are no arrangements with any person for her selection, nor is she a party to any transaction requiring disclosure under Section 404(a) of Regulation S-K involving the company or its subsidiaries.