STOCK TITAN

Xcel Energy Chief Operations Officer to Retire This Summer

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags

Xcel Energy (NASDAQ: XEL) announced significant leadership changes as Timothy O'Connor, executive vice president and chief operations officer, will retire this summer after nearly 20 years with the company.

Effective May 1, two internal executives will assume new roles: Scott Sharp will become executive vice president, chief generation officer, overseeing Nuclear, Energy Supply, and Commercial Operations. Michael Lamb will serve as executive vice president, chief delivery officer, managing Electric and Gas Distribution/Transmission, Wildfire Risk Management, Operations Process & Performance, and the Major Projects Group.

Both executives bring extensive experience to their new positions - Sharp has over 30 years in power plant operations, while Lamb has served since 1985 in various leadership roles. They will report to CEO Bob Frenzel and serve on the Executive Committee. O'Connor will transition to an advisory role through August.

Xcel Energy (NASDAQ: XEL) ha annunciato significative modifiche ai vertici aziendali, poiché Timothy O'Connor, vicepresidente esecutivo e chief operations officer, andrà in pensione quest'estate dopo quasi 20 anni con l'azienda.

A partire dal 1° maggio, due dirigenti interni assumeranno nuovi ruoli: Scott Sharp diventerà vicepresidente esecutivo, chief generation officer, supervisionando le operazioni nucleari, la fornitura di energia e le operazioni commerciali. Michael Lamb ricoprirà il ruolo di vicepresidente esecutivo, chief delivery officer, gestendo la distribuzione e la trasmissione di elettricità e gas, la gestione del rischio di incendi boschivi, i processi operativi e le prestazioni, e il gruppo dei progetti principali.

Entrambi i dirigenti portano una vasta esperienza nelle loro nuove posizioni: Sharp ha oltre 30 anni di esperienza nelle operazioni delle centrali elettriche, mentre Lamb è attivo dal 1985 in vari ruoli di leadership. Riporteranno al CEO Bob Frenzel e faranno parte del Comitato Esecutivo. O'Connor passerà a un ruolo di consulenza fino ad agosto.

Xcel Energy (NASDAQ: XEL) anunció cambios significativos en el liderazgo, ya que Timothy O'Connor, vicepresidente ejecutivo y director de operaciones, se retirará este verano después de casi 20 años en la empresa.

A partir del 1 de mayo, dos ejecutivos internos asumirán nuevos roles: Scott Sharp se convertirá en vicepresidente ejecutivo y director de generación, supervisando las operaciones nucleares, el suministro de energía y las operaciones comerciales. Michael Lamb servirá como vicepresidente ejecutivo y director de entrega, gestionando la distribución/transmisión de electricidad y gas, la gestión del riesgo de incendios forestales, los procesos operativos y el rendimiento, y el grupo de proyectos importantes.

Ambos ejecutivos aportan una amplia experiencia a sus nuevas posiciones: Sharp tiene más de 30 años en operaciones de plantas de energía, mientras que Lamb ha estado en diversos roles de liderazgo desde 1985. Reportarán al CEO Bob Frenzel y formarán parte del Comité Ejecutivo. O'Connor pasará a un rol de asesoría hasta agosto.

Xcel Energy (NASDAQ: XEL)는 중요한 리더십 변화를 발표했습니다. Timothy O'Connor, 부사장 겸 최고 운영 책임자가 회사에서 거의 20년을 근무한 후 이번 여름에 은퇴할 예정입니다.

5월 1일부터 두 명의 내부 임원이 새로운 역할을 맡게 됩니다: Scott Sharp는 부사장 겸 최고 발전 책임자가 되어 원자력, 에너지 공급 및 상업 운영을 감독하게 됩니다. Michael Lamb는 부사장 겸 최고 전달 책임자로서 전기 및 가스 배급/전송, 산불 위험 관리, 운영 프로세스 및 성과, 주요 프로젝트 그룹을 관리하게 됩니다.

두 임원 모두 새로운 직책에 풍부한 경험을 가지고 있습니다. Sharp는 발전소 운영에서 30년 이상의 경력을 가지고 있으며, Lamb는 1985년부터 다양한 리더십 역할을 수행해왔습니다. 그들은 CEO Bob Frenzel에게 보고하고 집행 위원회에서 활동할 것입니다. O'Connor는 8월까지 자문 역할로 전환될 예정입니다.

Xcel Energy (NASDAQ: XEL) a annoncé des changements significatifs au niveau de la direction, car Timothy O'Connor, vice-président exécutif et directeur des opérations, prendra sa retraite cet été après près de 20 ans au sein de l'entreprise.

À partir du 1er mai, deux dirigeants internes assumeront de nouveaux rôles : Scott Sharp deviendra vice-président exécutif et directeur de la génération, supervisant le nucléaire, l'approvisionnement énergétique et les opérations commerciales. Michael Lamb agira en tant que vice-président exécutif et directeur de la livraison, gérant la distribution et la transmission d'électricité et de gaz, la gestion des risques d'incendie de forêt, les processus opérationnels et la performance, ainsi que le groupe des projets majeurs.

Les deux dirigeants apportent une vaste expérience à leurs nouvelles fonctions : Sharp possède plus de 30 ans d'expérience dans les opérations des centrales électriques, tandis que Lamb occupe divers rôles de direction depuis 1985. Ils rendront compte au PDG Bob Frenzel et siégeront au Comité Exécutif. O'Connor passera à un rôle de conseiller jusqu'en août.

Xcel Energy (NASDAQ: XEL) gab bedeutende Führungswechsel bekannt, da Timothy O'Connor, Executive Vice President und Chief Operations Officer, diesen Sommer nach fast 20 Jahren im Unternehmen in den Ruhestand gehen wird.

Ab dem 1. Mai werden zwei interne Führungskräfte neue Positionen übernehmen: Scott Sharp wird Executive Vice President und Chief Generation Officer, der die Bereiche Kernenergie, Energieversorgung und kommerzielle Betriebsabläufe leitet. Michael Lamb wird als Executive Vice President und Chief Delivery Officer fungieren und die Bereiche Elektrizitäts- und Gasverteilung/-übertragung, Risikomanagement bei Waldbränden, Betriebsprozesse und -leistungen sowie die Gruppe für Großprojekte leiten.

Beide Führungskräfte bringen umfangreiche Erfahrungen in ihre neuen Positionen ein: Sharp hat über 30 Jahre Erfahrung im Betrieb von Kraftwerken, während Lamb seit 1985 in verschiedenen Führungsrollen tätig ist. Sie berichten an CEO Bob Frenzel und sind Mitglieder des Exekutivkomitees. O'Connor wird bis August in eine beratende Rolle wechseln.

Positive
  • Smooth leadership transition with experienced internal successors
  • Combined 65 years of company experience between new appointees
  • Continuity in operations with internal promotions
Negative
  • Loss of experienced COO with 40 years of nuclear and operations expertise

Two internal executive appointments announced in accordance with succession planning process

MINNEAPOLIS--(BUSINESS WIRE)-- Xcel Energy Inc. (NASDAQ: XEL) announced today that Timothy O’Connor, executive vice president, chief operations officer, will retire from the company this summer after nearly two decades of service.

Tim O'Connor (Photo: Business Wire)

Tim O'Connor (Photo: Business Wire)

In accordance with the company’s succession planning process, two internal executive appointments were announced, which will be effective May 1:

  • Scott Sharp will be named executive vice president, chief generation officer, adding oversight of Nuclear to his portfolio of Energy Supply and Commercial Operations.
  • Michael Lamb will be named executive vice president, chief delivery officer. He has led the company’s Customer Delivery group since last year, overseeing the business areas of Electric Distribution and Transmission, Gas Distribution and Transmission, Wildfire Risk Management and Operations Process & Performance. He will add the Major Projects Group to his portfolio. Lamb also will become the coordinating officer for the Operations, Nuclear, Environmental and Safety (ONES) committee of the Xcel Energy board of directors.

Sharp and Lamb both will serve on the company’s Executive Committee and report to Bob Frenzel, chairman, president and CEO. O’Connor will transition into an advisory role through August, reporting to Frenzel.

“Xcel Energy benefits from a strong pipeline of leadership that we have built – and continue to build – over time so that we are prepared for change when it inevitably occurs,” Frenzel said. “Our company has been extremely fortunate to benefit from Tim’s four decades of nuclear and operations experience, and we appreciate his years of dedicated service to our employees, customers and communities.”

O’Connor joined Xcel Energy in 2007 as a vice president at the Monticello Nuclear Generating Plant in Minnesota. He led the company’s Nuclear group for eight years before being elevated in 2020 to executive vice president, chief generation officer, and to his current role in 2021. O’Connor has represented Xcel Energy on several executive advisory groups, including the Department of Energy’s Idaho National Laboratory Nuclear Science and Technology areas, the Holtec Decommissioning advisory board, Nuclear Energy Institute’s industry labor management committee and the Terrestrial Energy industry advisory committee. He also worked in a reverse loaned assignment with the Institute of Nuclear Power Operations.

Sharp joined Xcel Energy in 2000 and has more than three decades of experience operating power plants. His leadership roles have included senior vice president, Energy Supply and Commercial Operations; site vice president at the Prairie Island Nuclear Generating Plant in Minnesota; and vice president, Nuclear Operations. He serves on the nonprofit board of the Carpenter Nature Center in Minnesota, as well as lending his expertise to the NuScale Advisory Board and Small Modular Reactor Start Board for development and promotion of next-generation nuclear technology.

Lamb joined Xcel Energy in 1985 and has held a number of leadership roles, including senior vice president, Customer Delivery; senior vice president, Transmission; and vice president, Enterprise Transformation Office & Operating Services. He serves on several nonprofit boards, including the Association of Edison Illuminating Companies, American Gas Association, Southern Gas Association and Minndependent.

“Scott and Michael have a combined nearly 65 years of service with Xcel Energy,” Frenzel said. “Their deep organizational acumen, focused on safety, operational excellence and continuous improvement, will allow us to continue to make energy work better for our customers every day. I look forward to working with them in their new roles and continuing to benefit from their leadership and expertise.”

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 X and Facebook.

Xcel Energy Media Relations

414 Nicollet Mall, 401-7

Minneapolis, MN 55401

(612) 215-5300

www.xcelenergy.com

Source: Xcel Energy

FAQ

When will Timothy O'Connor retire from Xcel Energy (XEL)?

Timothy O'Connor will retire in summer 2024 after nearly 20 years of service, transitioning to an advisory role through August.

Who are the new executive appointments at Xcel Energy (XEL)?

Scott Sharp will become EVP, chief generation officer, and Michael Lamb will serve as EVP, chief delivery officer, effective May 1.

What will Scott Sharp's responsibilities be at XEL?

Scott Sharp will oversee Nuclear, Energy Supply, and Commercial Operations as executive vice president and chief generation officer.

What areas will Michael Lamb manage in his new role at XEL?

Michael Lamb will manage Electric/Gas Distribution and Transmission, Wildfire Risk Management, Operations Process & Performance, and Major Projects Group.

Xcel Energy Inc

NASDAQ:XEL

XEL Rankings

XEL Latest News

XEL Stock Data

41.37B
572.09M
0.19%
81.81%
1.58%
Utilities - Regulated Electric
Electric & Other Services Combined
Link
United States
MINNEAPOLIS