Xcel Energy Inc. said Thursday that Chief Executive Ben Fowke will retire from that role, effective Aug. 18, after 10 years as CEO. The Minnesota-based electricity generator and distributor said Fowke continue in his role as executive chairman during a transition period. The company said Chief Operating Officer Bob Frenzel, who joined the company in 2016, will succeed Fowke as CEO. The stock, which was still inactive in premarket trading, has gained 5.3% year to date, while the Dow Jones Utility Average has edged up 2.8% and the Dow Jones Industrial Average has advanced 8.2%.

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