Xcel Energy Inc. (XEL) Annual Shareholder Meeting Conference Call May 16, 2012 12:00 pm ET Executives Benjamin G.S. Fowke III – Chairman, President and Chief Executive Officer Cathy James Hart – Corporate Secretary and Vice President C. Riley Hill – President, Chief Executive Officer, Director-SPS Analysts Paul Harpole – Mayor, Amarillo Carla J. Sonntag – New Mexico Utility Shareholders Alliance Beth Duke – Center City-Amarillo, Inc. Presentation Benjamin G.S. Fowke III
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Under Xcel Energy’s bilo subjects for consideration of this meeting are limited to those set forth in the notice you received. We will not entertain any new items for addition to the agenda. Cathy Hart will conduct a formal portion of the meeting this morning. There are six items in our business agenda, which were listed in the proxy statement. The polls are opened for voting on these matters.Following the business portion of the meeting, we will show a video that illustrates our most important commitments then I will make some brief remarks. After that you will have an opportunity to ask questions? For everybody’s benefit, we ask that you hold your questions until the Q&A that will follow my remarks. Our meeting will adjourned no later than 12 noon. Before proceeding to the business meeting, I’d like to introduce the Xcel Energy Board of Directors. Would each director please stand and remain standing until all of them introduced and please hold your applause until I name the last director. Fritz W. Corrigan; retired President and CEO of Mosaic Company in Plymouth, Minnesota. Fritz served as Independent lead director in 2011; Gail Koziara Boudreaux, CEO, UnitedHealthcare and Executive Vice President of UnitedHealthcare Group in Minnetonka, Minnesota; Richard K. Davis, Chairman and CEO of U.S. Bancorp in Minneapolis, Minnesota; Albert F. Moreno, retired Senior Vice President and General Counsel of Levi Strauss & Co. in San Francisco, California. Christopher J. Policinski, President and CEO of Land O’Lakes, Inc. in Arden Hills, Minnesota; A. Patricia Sampson, CEO, President and Owner of the Sampson Group, in Minneapolis, Minnesota; Joe Sheppard, Independent Consultant and former Senior Vice President and Chief Nuclear Officer of Southern California Edison; David A. Westerlund, retired Executive Vice President and Corporate Secretary of Ball Corporation in Broomfield, Colorado; Kim Williams, retried partner at Wellington Management Company in Boston, Massachusetts; and Timothy V. Wolf, President of Wolf Interests Inc. in Boulder, Colorado.
I’d also like to recognize one retired executive, one of Xcel Energy’s predecessor companies who is with us today Bill Helton, former Chairman and CEO of New Century Energies and SPS; Bill will you please stand. Also with us is a retired member of our Board of Directors, Coney Burgess, Chairman of the Board of Herring Bank; Coney will you please stand? We have a member of the International Brotherhood of Electrical Workers also in our audience; Joe Mihm is the IVE EW 602 Utility representative, Joe will you stand?We also have several city and state officials joining us this morning, I’d like to introduce Amarillo Mayor, Paul Harpole, Amarillo Chamber of Commerce, President Gary Molberg; State Senator, Kel Seliger; and State Representatives, Four Price and John Smith, will you please stand? Also happy to welcome Carla Sonntag, from the New Mexico Utility Shareholders Alliance, Carla will you please stand? And finally from the (inaudible), the independent accounts engage and the audit of the 2012 financial statements of Xcel Energy; are Tom Kilkenny, Audit Engagement Partner and Adam Krasnoff, Audit partner. Will you please stand thank you. So we’ll now proceed with our formal business and I’ll turn the meeting over to our Corporate Secretary, Cathy Hart. Cathy? Cathy James Hart Thank you Ben. Good morning, before we proceed with the voting. There are few procedural matters I need to discuss. The distribution of the notice of meeting, proxy statement and the 2011 Annual Report was completed on April 5, 2012, to each shareholder of record as of March 20, 2012. As of March 20, there were 486,926,611 shares of common stock outstanding. Each share of stock has one vote. As read across this morning, 410,900,547 votes were present by proxy, representing 84% of the total voting power. Therefore, the holders of the majority of the voting power of the company’s stock are present by proxy.
A forum is present in person and by proxy, so we will proceed with the business of the meeting. If you have already voted by proxy, your votes will be cast as you have instructed in the proxy. There is no need for you to vote by ballot today, unless you want to change your vote from the way you instructed in the proxy. If you’ve not voted by proxy or would like to change your vote, please raise your hand at this time, and the inspectors of election will give you a ballot.Read the rest of this transcript for free on seekingalpha.com