Xcel Energy on Wednesday named Bob Frenzel its new president and chief operating officer, making him the likely successor to CEO Ben Fowke.
Minneapolis-based Xcel (NYSE: XEL) didn’t give any sign that Fowke, who’s 61 and has been CEO for eight years, would be stepping down soon. But the company’s announcement made it clear that the promotion of Frenzel (who is currently chief financial officer until the new role takes effect March 31) was a succession planning move. Xcel doesn’t have a COO right…
