8-KLeadership ChangesExhibits & Filings

XCEL ENERGY INC 8-K Report, Executive Changes (Jun 22, 2022)

Filed June 22, 2022For Securities:XELXELLL

Summary

Xcel Energy Inc. (XEL) announced a change to its Board of Directors on June 22, 2022, with the election of Megan D. Burkhart. Ms. Burkhart, with extensive experience as Executive Vice President and Chief Human Resources Officer at Comerica Incorporated, brings a strong background in human resources, talent management, and organizational change. Her appointment is intended to enhance the Board's expertise in these crucial areas. The addition of Ms. Burkhart, deemed independent, increases the Board size from 11 to 12 directors. She has been appointed to serve on the Audit Committee and the Governance, Compensation and Nominating Committee, further contributing her specialized skills. Investors can view her compensation details as previously disclosed for non-employee directors.

Key Highlights

  • 1Xcel Energy elected Megan D. Burkhart to its Board of Directors, effective June 22, 2022.
  • 2Ms. Burkhart brings significant executive experience from Comerica Incorporated, where she served as EVP and Chief Human Resources Officer.
  • 3Her appointment strengthens the Board's expertise in human resources, talent acquisition, and organizational strategy.
  • 4Ms. Burkhart has been appointed to the Audit Committee and the Governance, Compensation and Nominating Committee.
  • 5The Board size has been increased from 11 to 12 directors to accommodate the new appointment.
  • 6Ms. Burkhart has been determined to be an independent director, meeting Nasdaq and Xcel Energy's standards.
  • 7Her compensation will be prorated and align with the standard compensation for Xcel Energy's non-employee directors.

Frequently Asked Questions

Megan D. Burkhart is a newly elected independent director to Xcel Energy's Board. She has served as Executive Vice President and Chief Human Resources Officer for Comerica Incorporated since 2010, overseeing various human resources functions including talent management, compensation, and organizational change. Prior to this, she held senior roles in compensation at Comerica.

Ms. Burkhart was elected to enhance the Board's expertise, particularly in areas of human resources, talent management, and organizational strategy, drawing from her extensive experience at Comerica. Her appointment also increases the Board's diversity of skills and perspectives.

Ms. Burkhart has been appointed to serve on two key committees of the Board: the Audit Committee and the Governance, Compensation and Nominating Committee.

Ms. Burkhart will receive compensation consistent with Xcel Energy's non-employee directors. This compensation will be prorated from her start date until the 2023 Annual Meeting of Shareholders, as previously detailed in the company's filings.