Xcel Energy Announces New Vice President, Treasurer

Rhea-AI Summary

Xcel Energy announces Paul Johnson as the new Treasurer, elevating him from his current role as Vice President of Investor Relations. This shift comes as the current Treasurer, Sarah Soong, departs for a role in healthcare insurance. Brian Van Abel, Xcel Energy's CFO, highlights the importance of strategic succession planning and the creation of synergies by combining Treasury and Investor Relations teams. Johnson's extensive experience and established relationships with credit agencies and investors are expected to enhance the company's leadership and operational performance.

Positive

• Paul Johnson’s appointment as Treasurer demonstrates effective succession planning.
• Combining Treasury and Investor Relations teams may create operational synergies.
• Johnson's experience and relationships can enhance investor confidence.

Negative

• None.

In a continued commitment to long-term, strategic succession planning, Brian Van Abel, Xcel Energy’s executive vice president and Chief Financial Officer, today announced Paul Johnson as Treasurer. Johnson currently serves as vice president of Investor Relations, and in this new role will lead both Treasury and Investor Relations teams and realign them into a combined organization.

Johnson will assume this new role as the current Treasurer, Sarah Soong, will leave the company for an opportunity in the health care insurance industry.

“Xcel Energy is a company that values succession planning, which is critical to building ongoing confidence with investors, stakeholders, employees and customers, and helps ensure the right talent is in place for seamless leadership transitions,” said Van Abel. “We are fortunate to have a strong talent pipeline at all levels of our organization and realigning the Treasury and Investor Relations areas will create synergies and give team members opportunities to expand their scope and expertise.”

With more than three decades of experience at Xcel Energy, Johnson has well-established relationships with the company’s credit rating agencies, investors, industry analysts and other external and internal stakeholders.

“Paul is recognized among analysts as one of the leading Investor Relations professionals in the industry, and we are pleased that he can bring his decades of success into this expanded role for the company.”

For more information about the company’s financial and operational performance, visit our Investor Relations website.

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/20210624005266/en/

FAQ

Who has been appointed as Treasurer of Xcel Energy?

Paul Johnson has been appointed as Treasurer, taking over from Sarah Soong.

What role did Paul Johnson hold before becoming Treasurer at Xcel Energy?

Before his new role, Paul Johnson was the Vice President of Investor Relations.

Why is Paul Johnson's appointment important for Xcel Energy?

His appointment is significant due to his experience and established relationships with investors, potentially enhancing investor confidence.

What changes are being made to the Treasury and Investor Relations teams at Xcel Energy?

The Treasury and Investor Relations teams will be combined under Paul Johnson's leadership to create synergies and expand team members' expertise.