8-KLeadership ChangesExhibits & Filings

DTE ENERGY CO 8-K Report, Executive Changes (Jun 23, 2025)

Filed June 23, 2025For Securities:DTEDTKDTBDTGDTW

Summary

DTE Energy Company (DTE) announced significant leadership changes through an 8-K filing on June 23, 2025. Effective September 8, 2025, Joi M. Harris, currently President and Chief Operating Officer, will assume the role of President and Chief Executive Officer and join the Board of Directors. This transition marks a continuation of leadership from within the company, with Ms. Harris bringing extensive experience since 1991, including her recent role as President and Chief Operating Officer. Gerardo Norcia, the current Chairman and CEO, will transition to Executive Chairman, remaining a full-time employee and director, signaling a planned succession and continued strategic involvement. In conjunction with these leadership changes, executive compensation packages have been adjusted. Ms. Harris will see an increase in base salary, along with higher target percentages for both annual and long-term incentive plans, and a significant restricted stock grant. Mr. Norcia's compensation will be adjusted downwards to reflect his new role, and David Ruud, CFO, will be promoted to Vice Chairman and CFO, also receiving an increased salary, incentive targets, and a restricted stock grant. These moves indicate a strategic approach to leadership continuity and executive alignment with company performance.

Key Highlights

  • 1Joi M. Harris appointed President and Chief Executive Officer, effective September 8, 2025.
  • 2Joi M. Harris also elected to the Board of Directors, effective September 8, 2025.
  • 3Gerardo Norcia transitions to Executive Chairman, remaining a full-time employee and director.
  • 4Ms. Harris's annual base salary increases to $1,200,000 with enhanced incentive plan targets.
  • 5Mr. Norcia's compensation is adjusted downwards to reflect his Executive Chairman role.
  • 6David Ruud promoted to Vice Chairman and Chief Financial Officer with increased compensation.
  • 7Ms. Harris and Mr. Ruud receive significant restricted share grants vesting over three years.

Frequently Asked Questions

Effective September 8, 2025, Joi M. Harris will become President and CEO and join the Board. Gerardo Norcia will transition to Executive Chairman, and David Ruud will become Vice Chairman and CFO.

All announced leadership changes are effective September 8, 2025.

Her annual base salary will increase to $1,200,000. Her Annual Incentive Plan target will rise to 125%, and her Long-Term Incentive Plan target to 500%. She will also receive a $1,000,000 restricted stock grant vesting in three years.

Mr. Norcia will serve as Executive Chairman, remaining a full-time employee and a director of the Company. His compensation and incentive targets will be adjusted to reflect this new role.

Mr. Ruud's base salary increases to $800,000. His Annual Incentive Plan target will rise to 100%, and his Long-Term Incentive Plan target to 300%. He also receives a $1,000,000 restricted stock grant vesting in three years.