Xcel Energy Elects New Board Member

Rhea-AI Summary

Xcel Energy Inc. (NASDAQ: XEL) has appointed Megan Burkhart to its board of directors, effective immediately. With extensive experience in human resources and diversity, equity, and inclusion, she currently serves as the executive vice president and chief human resources officer at Comerica. Burkhart has a solid track record of enhancing executive compensation programs and DE&I efforts. Her leadership is expected to strengthen Xcel Energy’s commitment to effective governance, particularly in evolving areas like compensation and ESG.

Positive

• Megan Burkhart's extensive HR experience will enhance board oversight.
• Her leadership in DE&I at Comerica may strengthen Xcel's initiatives.
• Burkhart's background in executive compensation aligns with shareholder interests.

Negative

• Concerns about continuity and experience gaps with Burkhart's appointment.

MINNEAPOLIS--(BUSINESS WIRE)-- Xcel Energy Inc. (NASDAQ: XEL) today announced that Megan Burkhart has been elected to the company’s board of directors effective immediately.

Burkhart is an accomplished executive with decades of experience in human resources (HR), compensation, culture, and diversity, equity and inclusion (DE&I). She currently serves as executive vice president, chief human resources officer at Comerica Incorporated, a major financial services company headquartered in Dallas, Texas. She is responsible for leading the bank’s people strategy and organization for the $94 billion company. Prior to her current role, Burkhart served as senior vice president and director of compensation. She joined Comerica in 1997.

“Megan is an outstanding leader and we’re pleased to have her join our board,” said Bob Frenzel, chairman, president and CEO of Xcel Energy. “Megan’s extensive HR experience in a heavily regulated industry will contribute to our continued Board excellence in oversight around the rapidly evolving world of people, executive compensation, DEI and environmental social governance (ESG).”

At Comerica, Burkhart led the company’s redesign of all executive compensation programs to drive financial performance, align with shareholder interests and ensure market competitive compensation. She also accelerated the company’s DE&I efforts through recruitment, established an executive diversity council as well as a new diversity scorecard to drive leadership accountability. Comerica’s DE&I programs are regularly recognized by external organizations including: 11 years listed on the DiversityInc Top Regional Companies, most recently named a Top Noteworthy Company for Diversity and a perfect score of 100 for the 8^th consecutive year on Human Rights Campaign Foundation’s Corporate Equality Index.

Burkhart currently serves on the boards of Genesis Women’s Shelter, the Girl Scouts of North Texas, and Austin Street Center. She earned a bachelor's degree from Miami University in Oxford, Ohio.

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.

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Xcel Energy Media Relations

(612) 215-5300

Source: Xcel Energy Inc.

FAQ

Who is Megan Burkhart in relation to Xcel Energy?

Megan Burkhart is the newly appointed board member of Xcel Energy, bringing extensive experience in HR and DE&I.

What relevant experience does Megan Burkhart have?

Burkhart has decades of HR experience and led DE&I initiatives at Comerica.

When was Megan Burkhart appointed to Xcel Energy's board?

Megan Burkhart was elected to Xcel Energy's board effective immediately as of the press release date.

What impact might Burkhart's appointment have on Xcel Energy?

Her leadership is expected to strengthen governance in executive compensation and DE&I policies.

What are Xcel Energy's goals regarding DE&I?

Xcel Energy aims to enhance its DE&I initiatives, which can be positively influenced by Burkhart's experience.