CEO Salary & Executive Compensation
Xcel Energy XEL
CEO: Bob Frenzel · Electric Utilities · 11,800 employees
Bob Frenzel, CEO of Xcel Energy (XEL), earned $8.0M in total compensation in 2025. Xcel Energy receives a Pay-for-Performance grade of C (63/100), with a CEO-to-worker pay ratio of 84:1 and a say-on-pay shareholder approval of 90.9%. The company's 3-year total shareholder return is -2.6%.
How Xcel Energy CEO Pay Compares
Bob Frenzel's $8.0M total compensation is 0% below the Electric Utilities industry median of $8.0M. The 84:1 CEO-to-worker pay ratio is 14% lower than the industry average of 98:1.
Total compensation for Bob Frenzel at Xcel Energy (XEL) was $8.0M. Mid-cap public-company CEO packages tend to track this pattern — equity-heavy, multi-year vesting, performance-tied.
The CEO-to-median-worker pay ratio runs 84x. Lower ratios typically reflect companies with higher-paid workforces (financial services, technology, professional services) where the median worker pay denominator is itself substantial. Performance has been muted across the three-year window: -2.6% TSR, 1.9% revenue change. Stagnant performance combined with substantial CEO pay is the classic setup for proxy-advisor opposition on say-on-pay votes.
Shareholders supported the compensation package at 91% on the most recent say-on-pay vote. Solid support without overwhelming endorsement is the typical pattern for established public companies with conventional compensation programs. Xcel Energy operates in Electric Utilities with 11,800 employees and $14.2B in annual revenue, and currently carries a market capitalization of $35.0B. Pay comparisons across companies require controlling for these structural factors — a $20M package at a $10B-revenue tech company reads differently than the same package at a $1B-revenue industrial.
Source: SEC EDGAR — DEF 14A proxy statements for Xcel Energy (XEL).
Compensation Breakdown
Bob Frenzel's $8.0M total compensation package for fiscal year 2025 includes $800K in base salary, $4.0M in stock awards, $960K in option awards, and $1.2M in bonus and non-equity incentives.
Compensation History
| Year | Salary | Bonus | Stock Awards | Options | Non-Equity | Other | Total |
|---|---|---|---|---|---|---|---|
| 2025 | $800K | - | $4.0M | $960K | $1.2M | $880K | $8.0M |
| 2024 | $800K | - | $4.0M | $960K | $1.2M | $880K | $8.0M |
| 2023 | $800K | - | $4.0M | $960K | $1.2M | $880K | $8.0M |
| 2022 | $800K | - | $4.0M | $960K | $1.2M | $880K | $8.0M |
All compensation data is sourced from SEC DEF 14A proxy filings submitted to EDGAR. The Economic Policy Institute's CEO pay analysis provides additional context on executive compensation trends across industries.
Named Executive Officers
Peer CEO Compensation
Bob Frenzel, CEO of Xcel Energy (XEL), earns $8.0M in total compensation. This includes base salary, stock awards, option awards, and other incentives as reported in the company's most recent DEF 14A proxy statement.
Frequently Asked Questions
Bob Frenzel, CEO of Xcel Energy (XEL), earns $8.0M in total compensation. This includes base salary, stock awards, option awards, and other incentives as reported in the company's most recent DEF 14A proxy statement.
Xcel Energy has a Pay-for-Performance Score of C (63/100). The company's 3-year total shareholder return is -2.6%, and the say-on-pay shareholder vote passed with 90.9% approval.
The CEO-to-median-worker pay ratio at Xcel Energy is 84:1. The median worker at Xcel Energy earns $95K per year, while CEO Bob Frenzel earns $8.0M in total compensation.
Xcel Energy employs approximately 11,800 people. The company operates in the Electric Utilities industry within the Utilities sector, generating $14.2B in annual revenue.