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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Garrick J. Rochow ExecutiveBoard | President and CEO | Board Member: American Gas Association, Edison Electric Institute, Business Leaders for Michigan, The Right Place, Priority Health, New Community Transformation Fund, West Michigan Policy Forum, Grand Rapids Economic Club. | Over 20 years of utility industry experience, with expertise in electric and natural gas operations, regulatory compliance, and strategic planning. | View Report → |
Brandon J. Hofmeister Executive | Senior Vice President | None listed. | Senior Vice President since 2017, with expertise in public policy and clean energy initiatives. | |
Brian F. Rich Executive | Senior Vice President and Chief Customer Officer | None listed. | Leads customer experience and digital transformation; previously served as Chief Information Officer. | |
Catherine A. Hendrian Executive | Senior Vice President | None listed. | Senior Vice President since 2017, with a focus on human resources and organizational leadership. | |
LeeRoy Wells Jr. Executive | Senior Vice President | None listed. | Senior Vice President since 2020, with expertise in electric systems operations and maintenance. | |
Rejji P. Hayes Executive | Executive Vice President and CFO | None listed. | CFO since 2017, with extensive experience in financial strategy and leadership. | |
Scott B. McIntosh Executive | Vice President, Controller, and Chief Accounting Officer | None listed. | Responsible for financial reporting and accounting; has held various financial leadership roles within CMS. | |
Shaun M. Johnson Executive | Senior Vice President and General Counsel | None listed. | Oversees legal and regulatory matters; has held multiple leadership roles within CMS subsidiaries. | |
Tonya L. Berry Executive | Senior Vice President | None listed. | Leads engineering, resource planning, and environmental services; over 20 years of experience in energy and automotive industries. | |
Venkat Dhenuvakonda Rao Executive | Senior Vice President | None listed. | Senior Vice President since 2016, with a focus on clean energy and strategic initiatives. | |
Deborah H. Butler Board | Director | Chairman: Patriot Rail Company LLC; Independent Board Member: Ports America. | Brings expertise in operations, safety, and strategic planning from her career at Norfolk Southern Corporation. | |
John G. Russell Board | Director | Board Member: Hubbell Incorporated; Chairman: The Russell Family Foundation; Board Member: Grand Valley University Foundation. | Former President and CEO of CMS Energy; extensive experience in utility operations and governance. | |
John G. Sznewajs Board | Director | Partner: Shore Capital; Director and Treasurer: Detroit Zoological Society; Board Member: Teach for America - Detroit. | Former CFO of Masco Corporation; expertise in financial strategy and governance. | |
Jon E. Barfield Board | Director | President and CEO: LJ Holdings Investment Company LLC. | Extensive experience in legal risk oversight, financial reporting, and corporate governance. | |
Kurt L. Darrow Board | Director | Member: Business Leaders for Michigan; Member: ProMedica Board of Trustees. | Former CEO of La-Z-Boy Incorporated; extensive experience in strategic leadership and customer orientation. | |
Laura H. Wright Board | Director | Board Member: TE Connectivity, Spirit AeroSystems, Joby Aviation. | Former CFO of Southwest Airlines; expertise in financial management and corporate governance. | |
Myrna M. Soto Board | Director | Founder and CEO: Apogee Executive Advisors; Board Member: Spirit Airlines, Popular, Inc., TriNet Group; Venture Advisor: ForgePoint Capital. | Expert in cybersecurity and technology risk; former Chief Strategy and Trust Officer at Forcepoint. | |
Ralph Izzo Board | Director | Board Member: Ovintiv Inc., The Bank of New York Mellon Corporation, Argonne National Lab, TerraPower; Member: U.S. Department of Energy Fusion Energy Sciences Advisory Committee. | Former CEO of PSEG; recognized for expertise in clean energy and public policy. | |
Ronald J. Tanski Board | Director | Director: National Fuel Gas Company. | Former CEO of National Fuel Gas Company; extensive experience in energy and natural gas industries. | |
Suzanne F. Shank Board | Director | President and CEO: Siebert Williams Shank & Co., LLC; Board Member: Rocket Companies, White Mountains Insurance Group; Chair: Skillman Foundation. | Leader in investment banking and financial services; extensive board experience. |
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CMS increased its planned utility debt issuance for 2024 from $500 million to $675 million to rebalance the rate-making capital structure due to recent rate case outcomes ** **. Given the potential impact of increased debt on the company's balance sheet and credit ratings, how does management plan to manage debt levels while ensuring financial stability?
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With an upcoming equity need of up to $350 million starting next year, and discussions about potentially pulling ahead some parent debt financing needs from 2025 to 2024 if market conditions are favorable ** **, could you elaborate on the company's capital raising strategy and its impact on shareholder value?
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You have a $17 billion 5-year capital plan focused on transitioning to renewables and clean energy while maintaining customer affordability ** **. Considering this significant investment, what specific measures are you implementing to prevent rate hikes that could burden customers?
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In the electric rate case filing, you mentioned that electric cases are more complex than gas cases, with over 20 intervenors compared to less than 10 in gas cases . What challenges do you anticipate in achieving a constructive outcome, and how might increased complexity and intervenor participation affect the timeline and results of the rate case?
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Regarding servicing data centers, data centers are currently on industrial rates rather than economic development rates, and there is ongoing exploration of a specific data center rate ** **. How do you plan to attract and retain large data center customers while ensuring that rate design changes do not negatively impact the company's revenue stability?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Covert Generating Facility | 2023 | Completed acquisition of a natural gas-fueled generation facility located in Van Buren County, Michigan, with 1,200 MW capacity for $810 million. The deal, accounted as an asset acquisition with detailed price allocation (including an additional post-closing adjustment of $2 million), aligns with Consumers' Clean Energy Plan to secure cleaner yet controllable electricity generation capacity. |
Recent press releases and 8-K filings for CMS.
- Q1 2025 Performance: Reported adjusted EPS of $1.02 and GAAP EPS of $1.01 (up from $0.96 and $0.97 in Q1 2024) with net income of $304 million, reflecting favorable rate orders and milder weather conditions
- Full-year Outlook & Cost Management: Reaffirmed Adjusted EPS guidance of $3.54–$3.60, highlighted ongoing cost reduction initiatives (e.g., CE Way), announced long-term EPS growth of +6% to +8%, and declared an annual dividend of $2.17
- Storm Response: Deployed 500 pre‐staged crews and dispatched 900 total crews to restore service following historic storms in Michigan
- Operational Progress: Achieved a constructive outcome in its electric rate case, bolstering investments in its Electric Reliability Roadmap and various customer projects
- Clean Energy & Regulatory Support: Emphasized industry-leading clean energy commitments bolstered by a favorable Michigan regulatory environment
- NorthStar Clean Energy, a subsidiary of CMS Energy (NYSE: CMS) has secured up to $334 million in construction-to-term financing for its solar projects in Michigan.
- The financing will support two projects: the 200 MW Branch Solar project in Branch County and the 50 MW Genesee Solar project in Genesee County, which aims to deliver enough clean electricity for nearly 36,000 homes annually.