1st Tuesday: 5 Things About Xcel Energy CEO Bob Frenzel

Minnesota Carlson welcomes Bob Frenzel, the chairman, president and CEO of Xcel Energy, as the featured guest of the 1st Tuesday Speaker Series on April 7. Secure your seats for the next 1st Tuesday at this event registration link. Before Frenzel takes the stage at the McNamara Alumni Center, here are five things to know about him:

What was your first job?

As a teenager, I worked in so many different areas: mowing lawns, babysitting, scooping ice cream, cleaning golf clubs and carts, delivering pizza, cleaning carpets and even tutoring collegiate athletes in finance and accounting. But my first “career” job was running a nuclear power plant on a U.S. Navy aircraft carrier, the U.S.S. Dwight D. Eisenhower (CVN 69). The Navy is where I fell in love with energy — and I’ve been making electricity for 35 years! There’s something incredible about using the energy in the nucleus of an atom to heat water to create steam, then using that steam to turn a turbine and subsequently spin a generator. But we also utilize generators that spin with wind as a prime mover, natural gas and geothermal energy. My early Navy experience set me on an exciting and untraditional path to where I am today, leading one of the largest energy providers in the country.

What about Xcel Energy excites you? 

At Xcel Energy, we create and distribute the most consequential product that man has ever made — electricity. And we deliver it with 99.98% reliability — for the price of a cup of coffee every day — increasing sustainability. Our Minnesota electricity is 64% carbon free, en route to 80%. What excites me is the sheer speed and scale of what’s happening in energy right now. We’re on the cusp of a transformation as significant as the one that followed the invention of the lightbulb and the “grid” and the subsequent electrification of America — and that’s how it feels inside Xcel Energy. AI, data centers, electric vehicles and advanced manufacturing are driving tremendous growth, and we are meeting that demand with reliable, affordable and sustainable power. Being part of a team that’s building the critical infrastructure that future generations will depend on is energizing and humbling, all at once

What’s a trait you value in a leader?

Authentic leadership is what I value most — and something that I strive to emulate. Organizations that allow their leaders to lead with purpose and personal values will, over time, develop a deep-seated culture of success. When coupled with clear strategic vision and exceptional communication skills, leaders can truly deliver organizational excellence for the long term. In the absence of authenticity, however, strategy and communication skills will be less effective.  

What’s a lesson from school you still use today?

Georgia Tech, the University of Chicago, and the U.S. Navy Nuclear Power School shaped so much of who I am, from the friendships and values formed on campus to the lessons that continue to guide me today. Lessons about teamwork, hard work, being present and looking out for one another influence how I lead. I encourage current students to embrace challenging assignments — whether in school or in early stages of a career — because they teach many a critical life lesson. As Churchill would say, you learn that “success is not final, and failure isn’t fatal.” Don’t fear rejection or setbacks; they often turn out to be the best pivots in your life.  

What’s your top advice for students pursuing careers in business?

I believe that the highest correlation to career success is hard work. But don’t work hard at something you don’t care about. Be passionate about your profession. You spend too much of your life working to not find your career interesting or challenging. Take an active role in your career. I am known to say: “You are your own best career coach — no one cares more about your career than you!”  

But don’t underestimate the value of others in your career as well. Build and curate your network — starting today. We used to call it a “rolodex” when I was on campus. One day, you’ll look back and realize how all the dots in your career are connected, from the people you know to the experiences you’ve had that have helped guide your journey.