---
schema_version: "secwatch.filing_event.v1"
accession: "0000072903-21-000067"
form_type: "8-K/A"
ticker: "XEL"
cik: "0000072903"
company_name: "XCEL ENERGY INC"
filed_at: "2021-08-23T23:59:59+00:00"
generated_at: "2026-06-29T08:31:26.803207+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Xcel Energy promotes Robert Frenzel to CEO effective Aug 18; salary to $1.2M

## Summary
- Frenzel, previously President/COO, becomes President and CEO Aug 18, 2021.
- Base salary increased from $775k to $1.2M; target bonus raised from 100% to 125% of salary.
- Additional LTI award of $4.075M for 2021-2023 performance period.
- Ben Fowke, former CEO, remains as Executive Chairman with no compensation changes.

## SEC filing metadata
- accession: 0000072903-21-000067
- form_type: 8-K/A
- ticker: XEL
- cik: 0000072903
- company_name: XCEL ENERGY INC
- filed_at: 2021-08-23T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/72903/000007290321000067/0000072903-21-000067-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/72903/000007290321000067/xel-20210510.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000072903-21-000067
- JSON: https://secwatch.observer/filing/0000072903-21-000067.json
- Plain text: https://secwatch.observer/filing/0000072903-21-000067.txt

## Key facts
- Executive change
  Robert Frenzel was elected as President and Chief Executive Officer at XCEL ENERGY INC.
  - Action: elected
  - Role: President and Chief Executive Officer
  source text: the Xcel Energy Inc. (“Xcel Energy”) Board of Directors (“Board”) elected Robert Frenzel as President and Chief Executive Officer effective August 18, 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/72903/000007290321000067/0000072903-21-000067-index.htm
- Executive change
  Ben Fowke changed role as Executive Chairman of the Board at XCEL ENERGY INC.
  - Action: assumed
  - Role: Executive Chairman of the Board
  source text: As previously announced, upon Ben Fowke’s retirement as Chief Executive Officer of Xcel Energy on August 18, 2021, Mr. Fowke assumed the role of Executive Chairman of the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/72903/000007290321000067/0000072903-21-000067-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.