Attached files
file | filename |
---|---|
8-K - FORM 8-K - DTE ENERGY CO | c06280e8vk.htm |
Exhibit 99.1
Sept. 24, 2010
DTE Energy board elects Anderson CEO; Earley becomes executive board chairman
Longtime working relationship between the two ensures seamless transition, company officials say
Longtime working relationship between the two ensures seamless transition, company officials say
DETROIT DTE Energy President and Chief Operating Officer Gerard M. Anderson will become president
and chief executive officer beginning Oct. 1, taking the reins from Anthony F. Earley Jr., who has
been Andersons mentor for the past decade.
The DTE Energy board of directors elected Anderson to the post yesterday afternoon. Anderson, 52,
has assumed increasing responsibility for key business functions over the last few years and was
elected to the board last year.
Earley, 61, will have the title of executive chairman of the board and continue as a full-time
employee of the company, with particular responsibility for relationships with external
constituents.
The board has been preparing for this change for several years, and we are both gratified and
delighted to have the talent within our company required to guide DTE Energy well into the future,
Earley said. Gerry is one of the most talented executives I have ever had work for me, and I look
forward to seeing him take on even more responsibility at DTE Energy.
Anderson has served as DTE Energy president and chief operating officer since 2005. He first came
to the company in 1993 as vice president of non-utility businesses. He became executive vice
president of DTE Energy in 1997, directing the companys power generation, power marketing, fuel
supply and marketing activities. He was named president of DTE Energy in 2004 and assumed chief
operating officer responsibilities in 2005. Gerry Anderson Bio
I am grateful that the DTE Energy board has the confidence in me to lead this company through the
challenges of the current economy and the demands of the evolving energy industry, Anderson said.
DTE Energy is involved daily in one of the most pressing challenges our state and our nation face
developing sustainable sources of energy that also enhance our nations energy security. And we
are keenly focused on meeting that challenge in a way that is affordable for our customers.
DTE Energys priorities will remain the same. We are pushing hard to improve the quality of our
operations and the service we provide customers. We will remain involved in the communities we
serve. We are investing heavily in Michigan and in the broader region. And our employees take
great pride in being a Michigan-headquartered company that has an important role to play in
renewing the prosperity of our state, he said.
Anderson will report directly to the board. Earley will advise Anderson on strategic planning
activities and share responsibility for community and governmental relations and other external
issues.
Eugene Miller, retired chairman and CEO of Comerica Inc. and presiding director of the DTE Energy
board of directors, said, We are extremely fortunate to have two leaders of the caliber of Gerry
and Tony. Gerry is a supremely talented, committed and hard working member of the DTE Energy
leadership team, and we are confident in his ability to lead the company in this challenging
marketplace.
Earley joined DTE Energy in 1994 and has been CEO and chairman of the board since 1998. He was
president and COO from 1994 through 1998. Tony Earley Bio
Anderson has extensive experience in strategic planning and corporate and business development, and
broad experience managing capital intensive industries. Prior to joining DTE Energy, he was a
senior consultant at McKinsey and Co. Inc., specializing in the energy sector and financial
institutions.
He has a bachelors degree in civil engineering from the University of Notre Dame, and earned a
master of business administration degree and a master of public policy degree from the University
of Michigan. He is a director of The Andersons Inc., a company providing agricultural industry
products and services, and a director of many community and nonprofit organizations.
DTE Energy (NYSE:DTE) is a Detroit-based diversified energy company involved in the development and
management of energy-related businesses and services nationwide. Its operating units include
Detroit Edison, an electric utility serving 2.1 million customers in Southeastern Michigan;
MichCon, a natural gas utility serving 1.2 million customers in Michigan; and other non-utility
energy businesses focused on gas storage and pipelines, unconventional gas production, power and
industrial projects, and energy trading. Information about DTE Energy is available at
www.dteenergy.com and at www.twitter.com/dte_energy.
# # #
For further information, members of the media may contact:
Len Singer (313) 235-8809
Scott Simons (313) 235-8808
Scott Simons (313) 235-8808
DTE Energy Company
One Energy Plaza, Detroit, MI 48226-1279
One Energy Plaza, Detroit, MI 48226-1279
Biography
Gerard M. Anderson
President & Chief Executive Officer
DTE Energy
President & Chief Executive Officer
DTE Energy
Effective Oct. 1, 2010, Gerard M. Anderson, 52, will become president and chief executive officer
of DTE Energy (NYSE:DTE), a Detroit-based diversified energy company. DTE Energy owns Detroit
Edison, an electric utility serving 2.1 million customers in Southeastern Michigan and Michigan
Consolidated Gas Company (MichCon), a natural gas utility serving 1.2 million customers in more
than 550 communities throughout Michigan. DTE Energy also owns several nationwide non-utility
companies engaged in providing energy services to large industrial customers, the transportation
and storage of fuels such as natural gas and coal, energy trading and the development of
unconventional gas resources.
Anderson joined DTE Energy as vice president of non-utility business in 1993. As chief executive
officer of DTE Biomass Energy, DTE Energy Services and DTE Coal Services, he led efforts to
expand the companys landfill gas power generation business, to supply projects and services to
large industrial, institutional and commercial clients, and to provide coal and transportation
services to utilities and industrial customers. In April 1997, he became executive vice
president, DTE Energy, where he directed the companys power generation, power marketing, fuel
supply and marketing activities.
He was named president of DTE Energy in 2004 and assumed the responsibilities of chief operating
officer in 2005. He has been the architect and leader of the companys strategy to focus on cost
and operational excellence in the utility businesses and develop its non-regulated businesses.
Prior to joining DTE Energy, Anderson was a senior consultant at McKinsey & Co., Inc., an
international management consulting firm, from 1988 to 1993. There he worked closely with
clients senior management, focusing on the energy sector and financial institutions. From 1986
through 1987, he was employed with an economic forecasting group, The Research Seminar in
Quantitative Economics, and the U.S. Congressional Budget Office. Anderson also worked at R.T.K.L
Associates, Inc. and The Collaborative, Inc., serving as an engineer and project manager for
these two architectural/engineering firms from 1981 to 1985.
Anderson earned a bachelor of science degree in civil engineering at the University of Notre
Dame. He also earned a master of business administration degree and a master of public policy
degree from the University of Michigan.
Anderson is the former chairman of the Center for Energy and Economic Development and the EEI
Committee on Environment. He is a member of the board of directors of The Andersons, a
diversified public company focused on agricultural markets. He also is involved in various local
community and civic activities, serving on the board of trustees of The Nature Conservancy,
Michigan chapter; chairman of the Michigan Greenways Initiative; and as a member of the executive
committee of The Parade Company. He also serves on The Henry Ford board of trustees, the board of
Business Leaders for Michigan and the corporate advisory board of the University of Michigan Ross
School of Business.
DTE Energy Company
One Energy Plaza, Detroit, MI 48226-1279
One Energy Plaza, Detroit, MI 48226-1279
Biography
Anthony F. Earley Jr.
Executive Chairman of the Board, DTE Energy
Executive Chairman of the Board, DTE Energy
Effective Oct. 1, 2010, Anthony F. Earley, 61, will become executive chairman of the board of DTE
Energy (NYSE: DTE), a Detroit-based diversified energy company. DTE Energy owns Detroit Edison, an
electric utility serving 2.1 million customers in Southeastern Michigan and Michigan Consolidated
Gas Company (MichCon), a natural gas utility serving 1.2 million customers in more than 550
communities throughout Michigan. DTE Energy also owns several nationwide non-utility companies
engaged in providing energy services to large industrial customers, the transportation and storage
of fuels such as natural gas and coal, energy trading and the development of unconventional gas
resources.
Earley has served in many leadership positions in the utility industry. As chairman of the Edison
Electric Institute (EEI), the trade association of investor utilities, he was actively involved in
the development of national policies on energy, the environment and climate change issues. As a
former Chair of the Nuclear Energy Institute, he has played an active role in revitalizing the
nuclear industry in the United States.
Earley joined DTE Energy as president and chief operating officer in March 1994. He served as
chairman and chief executive officer of the company from 1998 until September 2010. In 2010, he
stepped down as CEO and remains as executive chairman. From 1989-1994, Earley was president and
chief operating officer of the Long Island Lighting Co. (LILCO), an electric and gas utility in New
York. Prior to 1989, he served LILCO in several other positions, including executive vice
president and general counsel. Earley joined LILCO in 1985 from the law firm of Hunton & Williams,
where he had been a partner in that firms energy and environmental team.
Earley earned a bachelor of science degree in physics, a master of science degree in engineering
and a law degree, all from the University of Notre Dame. He served as an officer in the United
States Navy nuclear submarine program where he was qualified as a chief engineer officer.
Earley serves on the board of directors of Ford Motor Company, MASCO Corporation, the Nuclear
Energy Institute, Business Leaders for Michigan (formerly Detroit Renaissance), United Way for
Southeastern Michigan and Cornerstone Schools. He is chairman of the board of Henry Ford Health
Systems, and serves on the advisory board for the College of Engineering for the University of
Notre Dame and the listed member advisory board for the New York Stock Exchange.