Xcel Energy 2007 Annual Report Download - page 10
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CORPORATE GOVERNANCE
That move prompted us to increase our board of directors’
oversight and governance of nuclear operations, with
a newly formed nuclear, environmental and safety
committee. In other changes to our already strong
corporate governance, we:
for a minimum of one year;
majority voting for directors;
not get a majority vote; and
in the Securities Trading Policy.
We’ve included more information on those efforts
in the proxy.
WE ARE THE ENERGY
The real energy behind our successful initiatives comes
from Xcel Energy employees, who achieved a broad range
of accomplishments in 2007. Several of our power plants,
for example, received safety awards from their respective
states. Others set operating records. Favorable legislation,
enhanced rate recovery mechanisms and the resolution of
several rate cases were the result of hard work on the part
of our employees.
Xcel Energy employees also contribute to their
communities, which was especially evident in 2007
when we received United Way of America’s Spirit of
America Award. The award, which is United Way’s most
prestigious national accolade, recognized our commitment
to community involvement. As the first utility ever to win
the award, we kept the momentum going when employees
and retirees pledged more than $2.2 million to support
local United Way efforts, which the Xcel Energy Foundation
matched dollar for dollar.
In 2007, we contributed to the community through
Xcel Energy Foundation grants, in-kind donations to
nonprofit organizations, matching gifts and United Way
contributions. Employees also donated their time to
help others.
Community support was one reason Xcel Energy was
named to the Dow Jones Sustainability Index (DJSI) for
North America for the second year in a row. Companies
listed on the DJSI are considered to be the best in class
in economic, environmental and social performance.
With excellent 2007 results, a proven and straightforward
strategy and strong commitments to the environment
and our communities, Xcel Energy is looking forward to a
successful 2008. We are the energy—and we’re putting
all of it to work for you. Thank you for your trust and
confidence in us.
Sincerely,
Richard C. Kelly
Chairman, President and CEO
Xcel Energy employee Joy Detterer