Gerard M. Anderson is the current CEO and Chairman of DTE Energy Company. He's a leader who has had an interesting career which has led him to the position that he now occupies. Most who have heard of him are familiar with Anderson's leadership skills but they don't know a lot about his personal life or some of the many achievements he's made in his career. To help you know more about him here are 10 things you didn't know about Gerard M. Anderson.
1. He's a Notre Dame graduate
Mr. Anderson attended the prestigious Notre Dame University. While he was there, he studied in the civil engineering program. He graduated with his bachelor of science degree from the school and then went on to achieve even higher academic distinction. He enrolled in the University of Michigan's Business Administration program and in their public policy studies as well. he earned his Master of Public Policy degree and in addition, his Master of Business Administration degree from the University.
2. He started his career as an engineer
After school, Gerry Anderson accepted a position with R.T.K.L. Associates, Inc. along with The Collaborative, Inc. He worked as a project manager and engineer for the two architectural and engineering firms. He started his career with them in 1981 and continued with his duties through 1985.
3. Anderson briefly worked with government economic research group
Gerry left the architectural and engineering project job to serve on an economic forecasting group's board. He was involved in The Research Seminar in Quantitative Economics and the U.S. Congressional Budget Office. He served with the group from 1986 through 1987. Early in his career, his knowledge and expertise was recognized and highly valued.
4. He was a consultant in the late 1980s
Gerry Anderson's expertise was in high demand and there were companies that were very happy to have in on board in an advisory capacity. In 1988 he was hired as a Senior Consultant at McKinsey & Company Inc. He served in this capacity through 1993. Immediately after this, Anderson was hired on at Detroit Edison, which is a subsidiary company of DTE Energy and electric utility. He was placed in the position of Vice President of Non-Utility Business at that time. This marked the beginning of his association with DTE Energy Co.
5. He worked for DTE nearly a decade before taking over the helm
When Anderson was hired at Detroit Energy Co in 1992, this was the beginning of a long and prosperous venture. From 1993 to 2005, he remained in the Vice President of Non-Utility operations. In 2005, he received a big promotion to the job of Chief Operating Officer for DTE Energy. He served in the position until 2010. Simultaneously, he was named the Group President of DTE's Energy Resources in May of 2001. He was appointed to the position of CEO in 2010.
6. He's the highest paid executive at DTE Energy Company
In reviewing Mr. Anderson's career and history we also came across his annual salary. we learned that there are no other executives at DTE who are paid more than Mr. Anderson. As of the end of the 2017 fiscal year his total compensation package at DTE was $15,835,900. This includes his annual salary, stock options and other cash compensations.
7. He has a sizable net worth
You've got to figure that with a total compensation package that is just shy of $16 million, Mr. Anderson has a significant net worth. When everything is said and done and the debts are weighed against his assets, Mr. Gerard M. Anderson, As of February of 2019 has an estimated net worth of a minimum of $25.4 million. He's done very well in managing his financial affairs.
8. Anderson holds a lot of DTE Stock
Gerry Anderson receives stocks annually as a part of his compensation package. He's free to hold on to them or to trade them on the market. He made a huge trade of DTE stock in April of 2017, moving 17,000 units of DTE Stock. The total estimated value of the stock he traded at that time was $682,210. He's a trader who routinely trades just under 6,000 units of his DTE stock approximately every 36 days on average. This has been his trading pattern since 2017. As of the latest figures, he is still in ownership of 79,906 units of stock in the company.
9. He serves on environmental committees
Anderson, along with DTE Energy Company are naturally concerned with the environment and the impact that the energy and utilities industry has upon the delicate ecosystems of the planet. He serves as the chairman of a very important board in this area. He chairs the EEI Committee on Environment. It's vital that these large companies consider any impact their operations have on the environment. In addition to this he is one of the trustees on the board for the Nature Conservancy organization in the Michigan chapter.
10. Anderson is civic minded
Gerard Anderson serves on several more civic boards. He's a member of The Andersons board of directors, a public company with a focus on agricultural markets. He's also involved in the Community Foundation for Southeast Michigan, the West Michigan Policy Forum, the Downtown Detroit Partnership, along with chairing the Center for Energy and Economic Development, and the Michigan Greenways Initiative.
Written by Dana Hanson
Read more posts by Dana Hanson