Xcel Energy’s Fowke announces plans to retire as CEO in August

Xcel Energy announced Thursday that Ben Fowke, chairman and CEO, will retire as CEO effective Aug. 18, 2021, though he will continue to serve on the Xcel Energy Board of Directors as executive chairman. Bob Frenzel, president and chief operating officer, will become the company’s next CEO and president.

Ben Fowke (Photo: Business Wire)

“Bob is an outstanding and proven business leader who delivers excellent operational and financial performance, and is also passionate about engaging with our employees, communities, customers and stakeholders,” Fowke said. “We have worked closely together for five years, and I am thrilled to be handing off the job to a strong successor.”

Frenzel joined Xcel Energy as chief financial officer in 2016, leading the company’s finance, tax, accounting and corporate development functions, as well as its subsidiary companies. He was named president and chief operating officer in March 2020, and currently oversees Xcel Energy’s four operating companies, along with its transmission, distribution and natural gas operations.

“I am honored and humbled by the support and confidence that Ben and the Board of Directors have placed in me,” Frenzel said. “Xcel Energy is in a strong position thanks to Ben’s leadership. I am excited for the opportunity to assume this leadership role at one of the most consequential organizations in energy, where we continue to pursue our strategic priorities, prov