8-KLeadership Changes

XCEL ENERGY INC 8-K Report, Executive Changes (Mar 3, 2025)

Filed March 3, 2025For Securities:XELXELLL

Summary

Xcel Energy Inc. (XEL) announced leadership changes within its operations team, effective May 1, 2025. Timothy O’Connor, Executive Vice President and Chief Operations Officer, will retire from his role. To ensure a smooth transition and continued operational focus, the company has appointed Michael Lamb as Executive Vice President, Chief Delivery Officer, and Scott Sharp as Executive Vice President, Chief Generation Officer. These appointments reflect a strategic restructuring of operational leadership, dividing the previous COO responsibilities into distinct delivery and generation functions. Both Mr. Lamb and Mr. Sharp have extensive experience within Xcel Energy, with Mr. Lamb most recently serving as Senior Vice President of Customer Delivery and Mr. Sharp as Senior Vice President of Energy Supply. Mr. O'Connor will remain with the company in a transitional capacity until August 21, 2025.

Key Highlights

  • 1Retirement of Timothy O’Connor, EVP and Chief Operations Officer, effective May 1, 2025.
  • 2Appointment of Michael Lamb as EVP, Chief Delivery Officer, effective May 1, 2025.
  • 3Appointment of Scott Sharp as EVP, Chief Generation Officer, effective May 1, 2025.
  • 4The operational leadership is being restructured into distinct Chief Delivery and Chief Generation Officer roles.
  • 5Michael Lamb has a long tenure at Xcel Energy, with recent experience in Customer Delivery.
  • 6Scott Sharp brings significant experience in Energy Supply and Generation operations, including nuclear.
  • 7Timothy O’Connor will provide transition services until August 21, 2025.

Frequently Asked Questions

The primary reason for the changes is the upcoming retirement of Timothy O’Connor, the Executive Vice President and Chief Operations Officer, effective May 1, 2025. The company is using this transition to restructure its operational leadership.

Timothy O’Connor's responsibilities are being divided between two new roles: Michael Lamb will serve as Executive Vice President, Chief Delivery Officer, and Scott Sharp will serve as Executive Vice President, Chief Generation Officer.

Michael Lamb has been with Xcel Energy since 1985 and most recently served as Senior Vice President, Customer Delivery. Scott Sharp joined Xcel Energy in 2000 and most recently held the position of Senior Vice President, Energy Supply, with prior experience in nuclear operations.

No, Timothy O’Connor will remain an employee of Xcel Energy and will provide transition services from May 1, 2025, through August 21, 2025, to ensure a smooth handover of his duties.