Xcel Energy Inc. announced that following the retirement of Chief Executive Officer, Mr. Ben Fowke will continue as Executive Chairman of the company for a transition period to be determined by the Board. In addition, on May 12, 2021, the Board elected Robert Frenzel to serve as the company’s President and Chief Executive Officer effective August 18, 2021. Mr. Frenzel is currently serving as the company’s President and Chief Operating Officer where he leads the company’s four utility operating companies, as well as the transmission, distribution and natural gas operations. Prior to that, Mr. Frenzel served as Chief Financial Officer, where he led the finance, tax, accounting and corporate development functions of Xcel Energy and its subsidiary companies. Mr. Frenzel joined Xcel Energy in 2016 from Energy Future Holdings Inc., where he served as the Chief Financial Officer for Luminant, its competitive power generating subsidiary. Mr. Frenzel previously worked as vice president in the investment banking division of Goldman Sachs, following his tenure as a manager and senior consultant in the strategy, finance and economics practice at Arthur Andersen. After college, he served in the United States Navy for six years, working as a nuclear engineering officer and weapons officer. Following active duty, he served in the Navy Reserves and was promoted to lieutenant commander.