DTE Energy CEO Gerry Anderson leaves his post

  • Push-out Score determined
  • After nine years in the position
  • Accolades, praise and thanks for Anderson
  • Jerry Norcia taking over
  • Anderson will remain as Executive Chairman at DTE Energy
  • Anderson kept it short and said 60 words

(exechange) — Detroit, Michigan, June 24, 2019 — Gerry Anderson, chief executive of DTE Energy, leaves the position. As announced by DTE Energy Co. in a news release and in a regulatory filing published on Monday, June 24, 2019, Gerard M. (Gerry) Anderson leaves his post as Chief Executive Officer at the utility company after nine years in the role, effective July 1, 2019.

Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past 12 months was 7.6 years, according to data compiled by exechange.

Gerry Anderson’s duties as CEO will be taken over by Gerardo (Jerry) Norcia, currently President and Chief Operating Officer of DTE Energy Company.

“Part of a multiyear succession plan”

Gerry Anderson’s imminent departure from the CEO post is explained as follows. Ruth Shaw, lead independent director of the board, said: “This change is part of a multiyear succession plan and we are unanimously confident in Jerry Norcia’s leadership and vision.”

Anderson will remain as Executive Chairman at DTE Energy

“Norcia succeeds Gerry Anderson, who will serve as executive chairman of the board and continue as a full-time employee of the company,” DTE Energy said.

As executive chairman, Anderson will serve as an advisor to Norcia on business issues and will focus on DTE’s community, political and broader industry roles. He will continue his leadership in the Detroit Regional CEO Group, the recently created Detroit Regional Partnership, the Detroit Economic Club, Business Leaders for Michigan (BLM) and the Edison Electric Institute. Anderson also chairs several non-profit organizations.

DTE Energy said: “Gerard M. Anderson, DTE Energy Chairman and Chief Executive Officer was named DTE Energy Executive Chairman and will remain a full-time employee and director of the Company.”

Share price increase since July 2010

The announcement follows an increase in DTE Energy Company’s share price of 185 percent since July 2010.

In the position of CEO since 2010

Anderson joined DTE in 1993 and held various senior executive leadership roles throughout the enterprise until being named president in 2004, CEO in 2010 and chairman in 2011.

He was the architect and leader of the company’s strategy to focus on cost and operational excellence in the utility business and develop its non-regulated businesses.

As CEO, he focused on building a positive, highly engaged culture – and on deeply connecting DTE Energy to the communities it serves, enabling it to act as a force for good.

Prior to joining DTE Energy, Anderson was a senior consultant at McKinsey & Co., an international management consulting firm, from 1988 to 1993, with a focus on the energy sector and financial institutions.

In the mid 1980’s, 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 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 a vice chairman of the Edison Electric Institute (EEI) board and co-chairman of the EEI Committee on Environment.

He is the founder and leader of the Detroit Regional CEO Group. He chairs both the recently formed Detroit Regional Partnership and the Detroit Economic Club, and serves on the executive committee of the Business Leaders for Michigan (BLM).

Anderson is also involved in various local community and civic activities, including: serving on the boards of trustees of The Nature Conservancy (Michigan chapter), the Henry Ford, the McGregor Fund, the Downtown Detroit Partnership, the West Michigan Policy Forum.

He serves on the Board of Directors of The Andersons, a publicly traded company.

Push-out Score determined

The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.

exechange reached out to DTE Energy and offered the company the opportunity to comment on the score.

Read the full story in the exechange report 26.2019 ($).