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DTE > SEC Filings for DTE > Form 8-K/A on 11-Dec-2013All Recent SEC Filings

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Form 8-K/A for DTE ENERGY CO


Change in Directors or Principal Officers

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On November 4, 2013, the Board of Directors of the Company approved the management changes with respect to several executive officers of the Company. The compensation arrangements with respect to certain of these officers were evaluated by the Company's Organization & Compensation Committee on December 4, 2013 and the following changes to compensation were approved, each effective upon the respective officer's commencement of his new role.

1. Effective December 30, 2013, Steven E. Kurmas, currently Group President of the Company and President and Chief Operating Officer of DTE Electric, commences his new role as President and Chief Operating Officer of the Company and he will receive a $50,000 increase in base salary.

2, Effective December 30, 2013, Gerardo Norcia, currently Group President of the Company and President and Chief Operating Officer of DTE Gas Company, commences his role as President and Chief Operating Officer-DTE Electric, remaining a Group President of the Company, and he will receive a $35,000 increase in base salary.

3. Effective January 1, 2014, David E. Meador, currently the Executive Vice President and Chief Financial Officer, commences his new role as Vice Chairman and Chief Administrative Officer, and he will receive a $20,000 increase in base salary.

4. Effective January 1, 2014, Peter B. Oleksiak, currently Senior Vice President-Finance, commences his position as Senior Vice President and Chief Financial Officer and his base salary will be increased to $440,000.

In addition, target percentages for each of these officers under the Company's Annual Incentive Plan and Long-Term Incentive Plan will be increased for plan years commencing in 2014. Further, certain of these officers will receive adjustments to other benefits and perquisites commensurate with their new positions. You can find more information about these plans and our executive benefits in the Company's 2013 Proxy Statement.

Forward-Looking Statements:

This Form 8-K contains forward-looking statements that are subject to various assumptions, risks and uncertainties. It should be read in conjunction with the "Forward-Looking Statements" section in DTE Energy's and DTE Electric 2012 Forms 10-K and 2013 Forms 10-Q (which sections are incorporated by reference herein), and in conjunction with other SEC reports filed by DTE Energy and DTE Electric that discuss important factors that could cause DTE Energy's and DTE Electric's actual results to differ materially. DTE Energy and DTE Electric expressly disclaim any current intention to update any forward-looking statements contained in this report as a result of new information or future events or developments.

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