- Push-out Score determined
- After about four and a half years in the position
- Good wishes for Poppe
- Garrick Rochow taking over
- Poppe kept it short and said 50 words
(exechange) — Jackson, Michigan, November 18, 2020 — Patti Poppe, chief executive of CMS Energy, leaves. As announced by CMS Energy Corp. in a news release and in a regulatory filing published on Wednesday, November 18, 2020, Patricia K. (Patti) Poppe, chief executive officer, leaves the company that has an electric and natural gas utility as its primary business after about four and a half years in the role, effective December 1, 2020.
Patti Poppe’s duties as CEO will be taken over by Garrick Rochow, currently executive vice president of operations of CMS Energy Corp.
Patti Poppe’s departure from the CEO post is explained as follows. CMS Energy said: “Poppe has accepted a position with another company.”
Poppe will be CEO at PG&E
“Patti Poppe is leaving the company, effective December 1, 2020, to take the position as CEO at PG&E Corporation in California,” CMS Energy said.
PG&E is California’s largest utility.
CMS Energy said: “Patricia K. Poppe has resigned from her positions as CMS Energy and Consumers Energy Company (“Consumers Energy”) president and chief executive officer and as a member of the CMS Energy and Consumers Energy Boards of Directors (“Board”), effective December 1, 2020.”
“Is not leaving due to any disagreement”
“Poppe has accepted a position with another company and is not leaving due to any disagreement with CMS Energy or Consumers Energy on any matter relating to operations, policies or practices,” CMS Energy said.
Share price increase since July 2016
The announcement follows an increase in CMS Energy Corp.’s share price of 40% since July 2016. July 2016 is the month in which Poppe’s tenure as CEO began.
Chaired by John G. Russell
John G. Russell serves as CMS Energy Corp.’s Chairman.
John G. Russell has served since May 2016 as Chairman of the Boards of CMS and Consumers. He served from May 2010 to July 2016 as president and chief executive officer of CMS and president and chief executive officer of Consumers.
In the position of CEO since 2016
Patti Poppe became CEO of the Company in 2016.
Patricia K. Poppe has served since July 2016 as president and chief executive officer of CMS and Consumers.
Prior to that, she served since March 2015 as senior vice president of distribution operations, engineering and transmission for CMS and Consumers, with overall responsibility for Consumers’ electric and natural gas distribution systems, energy operations and electric transmission.
Prior to that, she served since January 2011 as vice president of customer experience, rates and regulation of Consumers.
She currently serves on the board of Whirlpool Corporation. She has been a director of CMS and Consumers since May 2016.
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 CMS Energy and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 47.2020 ($).