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TheStreet Open House

CMS Energy's CEO Hosts Investor Meeting (Transcript)

Stocks in this article: CMS

Back in 2006, we set a benchmark this is at the utility, when I was running the utility to set breakthrough goals, and what breakthrough goals are our long-term broad-based goals which are aspirational in nature. And for the utility business that’s a little different, because utility business tends to be incremental in nature, and so there were some doubts about could you set goals out to 2012 on performance and achieve those targets. And I will be honest with you we had skeptics. We have skeptics on my management team. We had skeptics in the company that didn’t believe we could set goals in 2006 through 2012 and achieve those goals. And I want to give you little bit of a recap on what we have done and the targets that we have the categories, there is 12 of these goals and they fall into the categories you can see on the left side of the slide up there.

The first goal we set, which was the hardest goal that we had to achieve, but the one that I set -- think set the platform for us in the future and the ones that we have the most skepticism for our employees was safety. We set a goal in 2006 to reduce the incidents of our employees and employee safety by 50% by 2012. The reaction from most employees is that's unattainable. In 2010, we achieved that target of 50% reduction and we have raised the bar to 70%. We have gone from fourth quartile in incidents back in 2006 to first quartile in 2011. And the reason I use safety is that could not have been done without a complete team effort of our management team, our union employees, and the leadership of our union.

One other thing that illustrates to that I believe personally if you get safety right, it brings a sense of rigor and discipline to the business that carries through all phases of the business. And we know in this industry we operate a very dangerous business both on the electric and gas side. So, this is one of the ways that permeates as we go through and a key here is we are not done yet. And I think you know how we set goals at CMS Energy and Consumers Energy. The target we have for 2012, which is not there is a 20% improvement on where we achieved in 2011.

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