---
schema_version: "secwatch.filing_event.v1"
accession: "0000072903-23-000125"
form_type: "8-K"
ticker: "XEL"
cik: "0000072903"
company_name: "XCEL ENERGY INC"
filed_at: "2023-08-23T23:59:59+00:00"
generated_at: "2026-06-11T05:10:10.668617+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Xcel Energy elects Timothy Welsh (U.S. Bancorp exec) to board, effective Aug. 23, 2023

## Summary
- Timothy Welsh elected to Xcel Energy board effective Aug. 23, 2023; term expires at 2024 annual meeting.
- Welsh appointed to Audit Committee and Operations, Nuclear, Environmental and Safety Committee.
- Board size increased from 12 to 13 directors; Welsh is independent under Nasdaq rules.
- Welsh is Vice Chair, Consumer and Business Banking at U.S. Bancorp; previously senior partner at McKinsey.
- Bylaws amended to adopt universal proxy rules and make housekeeping changes (gender-neutral titles, chair authority).

## SEC filing metadata
- accession: 0000072903-23-000125
- form_type: 8-K
- ticker: XEL
- cik: 0000072903
- company_name: XCEL ENERGY INC
- filed_at: 2023-08-23T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/72903/000007290323000125/0000072903-23-000125-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/72903/000007290323000125/xel-20230823.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000072903-23-000125
- JSON: https://secwatch.observer/filing/0000072903-23-000125.json
- Plain text: https://secwatch.observer/filing/0000072903-23-000125.txt

## Key facts
- Executive change
  Timothy A. Welsh was elected as Director at XCEL ENERGY INC.
  - Action: elected
  - Role: Director
  source text: On August 23, 2023, the Board of Directors (the “Board”) of Xcel Energy Inc. (“Xcel Energy”) elected Timothy A. Welsh, 57, to serve on the Board, effective August 23, 2023, for a term expiring at the Xcel Energy 2024 Annual Meeting of Shareholders.
  evidence_url: https://www.sec.gov/Archives/edgar/data/72903/000007290323000125/0000072903-23-000125-index.htm
- Governance Changes
  XCEL ENERGY INC: Amended Bylaws to adopt universal proxy card rules, delete Chairman as listed officer, add Controller as listed officer, and make gender-neutral changes (effective 2023-08-23).
  - Change: bylaw amendment
  - Effective: 2023-08-23
  source text: On August 23, 2023, the Board adopted amendments to Xcel Energy’s Bylaws to, among other things, make changes in connection with the SEC rules regarding universal proxy cards.
  evidence_url: https://www.sec.gov/Archives/edgar/data/72903/000007290323000125/0000072903-23-000125-index.htm

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