Company: DTK
Filing Date: 2025-03-13
Form Type: DEF 14A
Source: 0000936340-25-000081
Chunk: 18

Company: DTE ENERGY CO
Filing Date: 2025-03-13
Form: DEF 14A
Chunk 18
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 independent director as Lead Independent Director, which has been our practice since 2004.

The Board believes it is in the best interests of the Company and shareholders for the Board to have flexibility in determining whether to separate or combine the roles of Chairman and Chief Executive Officer based on the Company’s circumstances. The Board has strong governance structures and processes in place to ensure the independence of the Board, eliminate conflicts of interest and prevent dominance of the Board by senior management. The Governance Guidelines and various committee charters provide for independent discussion among directors and for independent evaluation of, and communication with, many members of senior management.

The Board members have considerable experience and knowledge regarding the challenges and opportunities facing the Company and shareholders. The Board believes, therefore, that separating the roles of Chairman and Chief Executive Officer is unnecessary at this time. The Board believes that Mr. Norcia is well qualified through his experience and expertise to be the person who generally sets the agenda for, and leads Board discussions of strategic issues for the Company. Nevertheless, the Board will separate these functions when it considers the separation to be in the best interests of the Company and shareholders.

With the Chairman and CEO positions held by Mr. Norcia, the Board continues to believe a good governance practice is to elect a Lead Independent Director from the independent directors. On February 2, 2023, the Board unanimously elected Mark A. Murray to serve as Lead Independent Director, effective May 4, 2023. The Lead Independent Director has such responsibilities as required under the NYSE listing standards, as well as such other responsibilities as determined by the Board. The Lead Independent Director serves in that capacity until replaced. There is no defined term of office, and the assignment does not rotate among the directors. The Lead Independent Director’s duties include:

■ Calling regularly scheduled executive sessions; presiding at Board executive sessions of non-management directors or independent directors; and providing feedback regarding such sessions, as appropriate, to the Chairman and CEO;

■ Serving as the liaison between the Chairman and CEO and the independent directors;

■ Approving the general scope and type of information to be presented at Board meetings;

■ Reviewing shareholder communications addressed to the Board or to the Lead Independent Director;

■ Making himself or herself available if requested by major shareholders, for direct consultation and communication with shareholders;

■ Organizing Board meetings in the absence of the Chairman and CEO and presiding at any session of the Board where the Chairman and CEO is not present;

■ Designating one or more directors as alternate members of any committee to replace an absent or disqualified