8-KLeadership ChangesExhibits & Filings

XCEL ENERGY INC 8-K Report, Executive Changes (Feb 28, 2011)

Filed February 28, 2011For Securities:XELXELLL

Summary

Xcel Energy Inc. (XEL) announced a change to its board of directors on February 28, 2011, effective March 1, 2011. James J. (Joe) Sheppard has been elected to the board. Mr. Sheppard brings significant experience in the nuclear power industry, having previously served in leadership roles at Southern California Edison and as chairman, president, and CEO of STP Nuclear Operating Company. His appointment is expected to enhance the board's expertise, particularly with his anticipated role on the Nuclear, Environmental and Safety Committee. This addition to the board is the primary focus of this 8-K filing. Investors should note that Mr. Sheppard will be compensated in line with other non-employee directors. The filing does not disclose any material financial changes or operational updates beyond this directorial appointment.

Key Highlights

  • 1Xcel Energy Inc. appointed James J. (Joe) Sheppard to its board of directors, effective March 1, 2011.
  • 2Mr. Sheppard's term on the board will expire at the Company's 2011 annual meeting of shareholders.
  • 3He brings extensive experience in the nuclear power industry, including prior roles at Southern California Edison.
  • 4Mr. Sheppard previously held senior leadership positions at STP Nuclear Operating Company, including CEO.
  • 5The board anticipates naming Mr. Sheppard to the Nuclear, Environmental and Safety Committee.
  • 6His compensation for board service will be consistent with that of other non-employee directors, prorated.
  • 7The filing is primarily focused on this directorial change and includes a press release dated February 28, 2011 as an exhibit.

Frequently Asked Questions

James J. (Joe) Sheppard is a newly elected director to Xcel Energy's board. He has a strong background in the nuclear power industry, having served as interim senior vice president and chief nuclear officer for Southern California Edison and as chairman, president, and CEO of STP Nuclear Operating Company.

Mr. Sheppard's appointment is significant as it adds considerable expertise in nuclear power operations and safety to the board. He is expected to contribute to the Nuclear, Environmental and Safety Committee, enhancing the board's oversight in critical areas.

Mr. Sheppard will receive compensation for his board service that is consistent with the compensation paid to Xcel Energy's other non-employee directors. This compensation will be prorated from his start date of March 1, 2011.

No, this 8-K filing primarily focuses on the election of Mr. James J. (Joe) Sheppard to the board of directors. There are no other significant financial statements, operational updates, or executive changes disclosed in this report.