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.