Robert Frenzel Biography and Net Worth

Bob Frenzel is chairman, president, and CEO of Xcel Energy, one of the largest public utilities in the country. The Fortune 500 energy company, headquartered in Minneapolis, serves utility customers in parts of eight states, providing electricity to 3.7 million customers and natural gas service to 2.1 million customers. In 2018, Xcel Energy was the first company to announce a vision to produce carbon-free electricity by 2050.

Prior to becoming CEO, Frenzel served as president and chief operating officer (COO), where he led Xcel Energy’s four utility operating companies, as well as the transmission, distribution and natural gas operations. Previously, he served as chief financial officer, where he led the finance, tax, accounting, and corporate development functions of Xcel Energy and its subsidiary companies. 

Frenzel joined Xcel Energy in 2016 from Energy Future Holdings, Inc., where he served as senior vice president and chief financial officer for Luminant, its competitive power generating subsidiary, and prior to that, senior vice president of Strategy and Corporate Development.

Frenzel previously worked as vice president in the investment banking division of Goldman Sachs, following his tenure as a manager and senior consultant in the strategy, finance and economics practice at Arthur Anderson. After college, he served in the United States Navy for six years, working as a nuclear engineering officer and weapons officer. Following active duty, Frenzel served in the Navy Reserves and was promoted to lieutenant commander.

Frenzel earned his bachelor’s degree in industrial engineering from Georgia Tech and his master’s degree in business administration from the University of Chicago Booth School of Business. He also graduated from the U.S. Navy’s Nuclear Power School.

Frenzel serves as Chairman of the Audit Committee of Patterson Companies, Inc. and Chairman of the Governance Committee of the Children’s Theatre Company.