CMS Energy Management

Management criteria checks 3/4

CMS Energy's CEO is Garrick Rochow, appointed in Dec 2020, has a tenure of 3.92 years. total yearly compensation is $9.64M, comprised of 12.8% salary and 87.2% bonuses, including company stock and options. directly owns 0.15% of the company’s shares, worth €30.20M. The average tenure of the management team and the board of directors is 3.9 years and 9.6 years respectively.

Key information

Garrick Rochow

Chief executive officer

US$9.6m

Total compensation

CEO salary percentage	12.8%
CEO tenure	3.9yrs
CEO ownership	0.2%
Management average tenure	3.9yrs
Board average tenure	9.6yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Garrick Rochow's remuneration changed compared to CMS Energy's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$1b
Jun 30 2024	n/a	n/a	US$960m
Mar 31 2024	n/a	n/a	US$959m
Dec 31 2023	US$10m	US$1m	US$876m
Sep 30 2023	n/a	n/a	US$738m
Jun 30 2023	n/a	n/a	US$727m
Mar 31 2023	n/a	n/a	US$678m
Dec 31 2022	US$9m	US$1m	US$823m
Sep 30 2022	n/a	n/a	US$772m
Jun 30 2022	n/a	n/a	US$765m
Mar 31 2022	n/a	n/a	US$778m
Dec 31 2021	US$7m	US$1m	US$746m
Sep 30 2021	n/a	n/a	US$763m
Jun 30 2021	n/a	n/a	US$813m
Mar 31 2021	n/a	n/a	US$783m
Dec 31 2020	US$3m	US$638k	US$697m
Sep 30 2020	n/a	n/a	US$730m
Jun 30 2020	n/a	n/a	US$731m
Mar 31 2020	n/a	n/a	US$696m
Dec 31 2019	US$2m	US$540k	US$631m
Sep 30 2019	n/a	n/a	US$621m
Jun 30 2019	n/a	n/a	US$583m
Mar 31 2019	n/a	n/a	US$629m
Dec 31 2018	US$2m	US$525k	US$657m
Sep 30 2018	n/a	n/a	US$546m
Jun 30 2018	n/a	n/a	US$549m
Mar 31 2018	n/a	n/a	US$502m
Dec 31 2017	US$2m	US$508k	US$460m

Compensation vs Market: Garrick's total compensation ($USD9.64M) is above average for companies of similar size in the German market ($USD4.81M).

Compensation vs Earnings: Garrick's compensation has been consistent with company performance over the past year.

CEO

Garrick Rochow (49 yo)

3.9yrs

Tenure

US$9,637,210

Compensation

Mr. Garrick J. Rochow serves as an Independent Director at Hubbell Incorporated since November 19, 2024. He is Board of Directors of New Community Transformation Fund, LP. He has been Chief Executive Offic...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Garrick Rochow	President	3.9yrs	US$9.64m	0.15% € 30.2m
Rejji Hayes	Executive VP & CFO	7.5yrs	US$3.76m	0.071% € 14.2m
LeeRoy Wells	Senior Vice President of Operations	3.9yrs	US$2.11m	0.023% € 4.5m
Shaun Johnson	Senior VP & General Counsel	5.5yrs	US$2.26m	0.026% € 5.1m
Brandon Hofmeister	Senior Vice President of Strategy	1.6yrs	US$1.99m	0.022% € 4.3m
Scott McIntosh	Chief Accounting Officer	3.2yrs	no data	0.0082% € 1.6m
Brian Rich	Senior VP of Customer Experience & Technology and Chief Customer Officer	8.3yrs	US$1.92m	0.032% € 6.3m
Jim Beechey	VP of IT & Security and Chief Information Officer	less than a year	no data	no data
Jason Shore	Treasurer & VP of Investor Relations	less than a year	no data	no data
Melissa Gleespen	VP, Chief Compliance Officer & Corporate Secretary	11.1yrs	no data	no data
Catherine Hendrian	Senior Vice President of People & Culture	7.6yrs	US$1.82m	0.019% € 3.9m
Tonya Berry	Senior Vice President of Transformation & Engineering	2.8yrs	no data	0.014% € 2.7m

3.9yrs

Average Tenure

49yo

Average Age

Experienced Management: CSG's management team is considered experienced (3.9 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Garrick Rochow	President	3.9yrs	US$9.64m	0.15% € 30.2m
John Russell	Independent Chairman of the Board	14.5yrs	US$451.00k	0.057% € 11.3m
Ronald Tanski	Independent Director	5yrs	US$275.00k	0.0041% € 820.8k
Deborah Butler	Independent Director	9.8yrs	US$280.00k	0.010% € 2.0m
Kurt Darrow	Independent Director	11yrs	US$295.00k	0.012% € 2.4m
Ralph Izzo	Independent Director	1.5yrs	US$240.00k	0.00091% € 181.3k
John Sznewajs	Independent Director	9.3yrs	US$295.00k	0.0094% € 1.9m
Laura Wright	Independent Director	11.8yrs	US$295.00k	0.014% € 2.7m
Suzanne Shank-Werdlow	Independent Director	5.8yrs	US$280.00k	0.0050% € 994.2k
Myrna Soto	Independent Director	9.8yrs	US$295.00k	0.010% € 2.1m

9.6yrs

Average Tenure

65yo

Average Age

Experienced Board: CSG's board of directors are considered experienced (9.6 years average tenure).

CMS Energy Management

Management criteria checks 3/4

Key information

Recent management updates

Insufficient new directors

CMS Energy Corporation, Annual General Meeting, May 03, 2024

Insufficient new directors

Independent Chairman of the Board recently sold €994k worth of stock

Cms Energy Announces Ralph Izzo to Join Board of Directors

Senior Vice President of Governmental recently sold €140k worth of stock

Recent updates

Third quarter 2024 earnings released: EPS: US$0.84 (vs US$0.60 in 3Q 2023)

Second quarter dividend of US$0.52 announced

CMS Energy Corporation to Report Q3, 2024 Results on Oct 31, 2024

Second quarter dividend of US$0.52 announced

Second quarter 2024 earnings released: EPS: US$0.65 (vs US$0.67 in 2Q 2023)

CMS Energy Declares Quarterly Dividend on Common Stock, Payable on August 30, 2024

First quarter dividend of US$0.52 announced

First quarter 2024 earnings released: EPS: US$0.96 (vs US$0.69 in 1Q 2023)

Insufficient new directors

CMS Energy Corporation to Report Q1, 2024 Results on Apr 25, 2024

CMS Energy Corporation, Annual General Meeting, May 03, 2024

New minor risk - Shareholder dilution

Full year 2023 earnings released: EPS: US$3.01 (vs US$2.84 in FY 2022)

CMS Energy Corporation Increases Quarterly Dividend, Payable on February 29, 2024

CMS Energy Corporation to Report Fiscal Year 2023 Results on Feb 01, 2024

Insufficient new directors

CMS Energy Corporation has filed a Follow-on Equity Offering in the amount of $1 billion.

New minor risk - Insider selling

Independent Chairman of the Board recently sold €994k worth of stock

CMS Energy Provides Earnings Guidance for the Full Year 2023 and 2024

Third quarter 2023 earnings released: EPS: US$0.60 (vs US$0.56 in 3Q 2022)

CMS Energy Corporation Declares Quarterly Dividend, Payable on November 30, 2023

CMS Energy Corporation to Report Q3, 2023 Results on Oct 26, 2023

Second quarter 2023 earnings released: EPS: US$0.67 (vs US$0.50 in 2Q 2022)

Cms Energy Declares Quarterly Dividend on Common Stock, Payable on August 31, 2023

Cms Energy Announces Ralph Izzo to Join Board of Directors

First quarter 2023 earnings released: EPS: US$0.69 (vs US$1.20 in 1Q 2022)

Senior Vice President of Governmental recently sold €140k worth of stock

Full year 2022 earnings released: EPS: US$2.84 (vs US$2.58 in FY 2021)

CMS Energy Increases Quarterly Dividend, Payable Feb. 28, 2023

CMS Energy Corporation to Report Q4, 2022 Results on Feb 02, 2023

Insufficient new directors

Chief Accounting Officer recently sold €51k worth of stock

Third quarter 2022 earnings released: EPS: US$0.56 (vs US$0.54 in 3Q 2021)

CMS Energy Corporation Declares Quarterly Dividend on Common Stock, Payable on November 30, 2022

CMS Energy Corporation to Report Q3, 2022 Results on Oct 27, 2022

Second quarter 2022 earnings released: EPS: US$0.50 (vs US$0.55 in 2Q 2021)

CMS Energy Corporation Declares Quarterly Dividend on Common Stock, Payable on August 31, 2022

CMS Energy Corporation to Report Q2, 2022 Results on Jul 28, 2022

Independent Director recently sold €83k worth of stock

Senior Vice President of Strategy recently sold €66k worth of stock

First quarter 2022 earnings released: EPS: US$1.20 (vs US$1.09 in 1Q 2021)

CMS Energy Declares Quarterly Dividend on Common Stock, Payable on May 31, 2022

CMS Energy Corporation to Report Q1, 2022 Results on May 03, 2022

Insider recently sold €392k worth of stock

CMS Energy Corporation and Consumers Energy Company Announce Executive Changes

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Upcoming dividend of US$0.46 per share

CMS Energy Corporation Increases Quarterly Dividend on Common Stock, Payable February 28, 2022

Senior VP & Chief Customer Officer recently sold €187k worth of stock

Third quarter 2021 earnings released: EPS US$0.54 (vs US$0.76 in 3Q 2020)

VP & Chief Accounting Officer Glenn Barba has left the company

Independent Director recently sold €225k worth of stock

Insider recently sold €424k worth of stock

Second quarter 2021 earnings released: EPS US$0.55 (vs US$0.45 in 2Q 2020)

Upcoming dividend of US$0.43 per share

First quarter 2021 earnings released: EPS US$1.21 (vs US$0.86 in 1Q 2020)

Upcoming dividend of US$0.43 per share

Senior Vice President of Transformation recently sold €145k worth of stock

New 90-day low: €45.00

Full year 2020 earnings released: EPS US$2.65 (vs US$2.40 in FY 2019)

Revenue misses expectations

CMS Energy Names Christine Wisniewski as Vice President of Operations Performance, with Effect from February 01, 2021

Upcoming Dividend of US$0.43 Per Share

New 90-day low: €47.00

New 90-day low: €47.40

CMS Energy Corporation Enters into Officer Separation Agreement with President Garrick J. Rochow

New 90-day low: €50.00

CMS Energy Corporation Names Senior Vice President of Operations, Effective December 1, 2020