Bob Frenzel's introduction to the power industry came aboard the U.S. aircraft carrier Dwight D. Eisenhower. A lieutenant in the Navy, he helped run the two nuclear reactors that powered the ship.
Starting Wednesday, he'll be at the helm of Xcel Energy's large fleet of power generators, from nuclear to wind, gas, coal and solar.
Frenzel takes the reins from Ben Fowke, who will retire as CEO but remain Minneapolis-based Xcel's executive chairman. Fowke's 10-year tenure was marked by aggressively moving into wind energy and setting a target of generating 100% clean energy by 2050 — including closing Xcel's Minnesota coal plants by 2030.
Frenzel, 51, has been working within the power industry for much of his career. The Atlanta native went to Georgia Tech on an ROTC scholarship, attending the Navy's nuclear power school. He served for nearly six years on active duty, and another eight years in the Navy Reserve.
After the Navy, Frenzel worked in consulting for a couple of years with Arthur Andersen before getting an MBA from the University of Chicago. Next came almost nine years as an investment banker at Goldman Sachs, advising clients in the energy sector, including Xcel.
Frenzel then worked at Texas-based utility company Energy Future Holdings before becoming chief financial officer of one its subsidiaries, Luminant. Xcel recruited him as its CFO in 2016 and promoted him to chief operating officer in March 2020.
The Star Tribune spoke to him recently about Xcel and the utility industry. The interview is edited for clarity and length.
Q: What is your strategy for Xcel — your vision?