Xcel Energy Announces Leadership Appointments

Rhea-AI Summary

Xcel Energy has announced leadership changes effective March 1, 2022. Brett Carter will be the new group president, Utilities and chief customer officer, while Jeff Savage will become the chief audit and financial services officer. Carter's role will focus on overseeing Xcel's operating companies and enhancing customer strategies, while Savage will manage risk and internal auditing responsibilities. Additionally, David Hudson will retire after 38 years with the company. These appointments aim to strengthen leadership and emphasize Xcel's commitment to clean energy and customer service.

Positive

• Brett Carter appointed group president, Utilities, and chief customer officer, enhancing leadership to drive growth.
• Jeff Savage as chief audit and financial services officer, overseeing risk management and internal audit.
• Focus on building leadership strength to maintain Xcel's status as a clean energy leader.

Negative

• David Hudson will retire, resulting in a gap in experience in leadership.

CEO taps internal talent for elevated roles

MINNEAPOLIS--(BUSINESS WIRE)-- Bob Frenzel, Xcel Energy’s president and CEO, today announced that Brett Carter will be named group president, Utilities and chief customer officer and that Jeff Savage will be chief audit and financial services officer, both effective March 1, 2022.

Brett Carter, Executive Vice President and Chief Customer and Innovation Officer (Photo: Business Wire)

“Xcel Energy has an outstanding leadership team that is the result of a long-standing focus on attracting and growing top talent,” said Frenzel. “Our continued focus on building our leadership bench strength allows us to capitalize on our position as a clean energy leader and continue to deliver outstanding value to our customers, communities and stakeholders.”

As group president, Utilities and chief customer officer, Carter will have oversight of Xcel Energy’s four operating companies in the eight states it serves and will continue leading the company’s customer strategy.

“Brett has been instrumental in the company’s ambitious electric vehicles growth strategy and has done tremendous work in transforming our customer experience and delivering innovative new products and services,” said Frenzel. “He is an exceptional leader and will be outstanding in this expanded role, working to strengthen relationships, drive growth and meet the energy needs of the future.”

Jeff Savage will become Xcel Energy’s chief audit and financial services officer, where he will oversee risk management and internal audit, in addition to supply chain and commodity risk management. Savage is currently serving as senior vice president, controller, and previously held the position of senior director for financial reporting and corporate and technical accounting.

In addition to these appointments, David Hudson, president of Xcel Energy’s New Mexico and Texas operating company will retire March 1, 2022, after more than 38 years. Hudson has served as operating company president for eight years and has previously held several leadership positions, overseeing community relations, strategic planning and regulatory administration.

“I want to extend my deep thanks to David for his tremendous leadership and commitment to our customers, our communities and our employees. His contributions will have a lasting impact on the company.”

About Xcel Energy

Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211220005665/en/

Xcel Energy Media Relations

414 Nicollet Mall, 401-7

Minneapolis, MN 55401

(612) 215-5300

www.xcelenergy.com

Source: Xcel Energy

FAQ

What leadership changes were announced by Xcel Energy on March 1, 2022?

Brett Carter was appointed group president, Utilities, and chief customer officer, while Jeff Savage became chief audit and financial services officer.

Who is the new group president of Xcel Energy?

Brett Carter is the new group president, Utilities and chief customer officer.

What role will Jeff Savage play at Xcel Energy?

Jeff Savage will serve as chief audit and financial services officer, overseeing risk management and internal audit.

What does Xcel Energy focus on under its new leadership?

The company emphasizes clean energy leadership and enhancing customer experiences.

When will the leadership changes at Xcel Energy take effect?

The changes will be effective on March 1, 2022.