Xcel Energy shareholders today denied a pair of proposals that would have separated the roles of chairman and chief executive officer and reformed the utility’s employee health care coverage.
The chairman proposal received 18 percent of votes cast, and the health care measure garnered 8 percent, according to preliminary results announced at the company’s annual shareholder meeting in Denver. A majority vote in favor was required for passage.
Xcel had urged shareholders to vote against the proposals. The chairman measure would have required the company to appoint an independent board director as chairman. Xcel CEO Dick Kelly currently serves as chairman.
Also today, shareholders approved the re-election of Xcel’s 13 board members to one-year terms and the appointment of Deloitte & Touche as Xcel’s principal independent accountant for 2008.
Andy Vuong: 303-954-1209 or avuong@denverpost.com
