Xcel Energy Adds Technology and Cybersecurity Expertise with Appointment of Maria Demaree to Board of Directors
Xcel Energy Inc. (NASDAQ: XEL), one of the largest electric and natural gas utilities in the United States, has announced the election of Maria Demaree to its board of directors, effective December 17, 2025. The appointment underscores Xcel Energy’s strategic focus on strengthening its leadership capabilities in digital transformation, cybersecurity, and advanced technology deployment as the energy sector undergoes rapid structural change.
Demaree brings more than 30 years of experience at Lockheed Martin, a global aerospace and defense company, where she has held several senior executive leadership roles across technology, operations, and large-scale program management. Most recently, she served as senior vice president of Enterprise Business and Digital Transformation and chief information officer (CIO), overseeing the company’s enterprise-wide IT strategy and modernization initiatives.
In her role as CIO, Demaree has been responsible for shaping and executing Lockheed Martin’s long-term digital vision, including leadership of the company’s 1LMX transformation program. This multi-year initiative is designed to modernize core business systems, improve digital enablement, and enhance operational efficiency across the enterprise. The program spans critical areas such as IT delivery and operations, data and analytics, cybersecurity, classified information systems, and workforce digital capabilities.
Demaree’s organization at Lockheed Martin includes more than 5,000 professionals worldwide, reflecting the scale and complexity of the systems she has managed. Her responsibilities have extended beyond technology infrastructure to include cultural and process transformation, aligning digital tools with business objectives and workforce needs. This experience is expected to be particularly valuable for Xcel Energy as utilities increasingly rely on advanced digital platforms to manage grid modernization, renewable integration, customer engagement, and regulatory compliance.
In addition to her enterprise technology leadership, Demaree has served as vice president and general manager for several major Lockheed Martin business units, including National Security Space, Special Programs, and Mission Solutions. In these roles, she oversaw multi-billion-dollar portfolios and mission-critical programs supporting defense and intelligence customers. Her experience managing large, highly regulated operations with stringent security and reliability requirements closely aligns with the operational realities of the energy and utility sector.
Xcel Energy Chairman, President, and Chief Executive Officer Bob Frenzel highlighted the strategic importance of Demaree’s appointment, emphasizing the growing role of digital innovation and information security in the utility industry.
“Maria’s appointment reflects our commitment to strengthening our capabilities in technology delivery, information security, and digital innovation—three areas that are increasingly critical as the energy industry continues to transform,” Frenzel said. “We are pleased to welcome Maria to our board and believe that our company will benefit greatly from her expertise as we implement advanced systems to make energy work better for our customers.”
The energy industry is experiencing unprecedented change, driven by the rapid expansion of renewable generation, electrification of transportation and buildings, increasing customer expectations, and heightened cybersecurity risks. Utilities like Xcel Energy are investing heavily in grid automation, advanced metering infrastructure, data analytics, and digital customer platforms to ensure reliability, affordability, and resilience in a more complex operating environment.
Demaree’s background in cybersecurity and classified IT systems is particularly relevant as utilities face rising threats to critical infrastructure. As grids become more connected and data-driven, ensuring the security of operational technology and customer information has become a top priority for boards and executive leadership teams alike. Her experience overseeing secure systems for national security applications is expected to strengthen Xcel Energy’s governance and oversight in this area.
As a member of the Xcel Energy board, Demaree will serve on the Audit Committee and the Operations, Nuclear, Environmental and Safety (ONES) Committee. These committee assignments place her at the center of key oversight responsibilities, including financial integrity, operational performance, safety, environmental stewardship, and nuclear operations. Her broad leadership background and technical expertise are expected to contribute meaningfully to board-level discussions on risk management, capital investment, and long-term strategy.
In accepting the appointment, Demaree expressed enthusiasm for joining Xcel Energy at a time of significant transition for the energy industry.
“I’m honored to join the Xcel Energy board at such a pivotal moment in our nation’s energy history,” Demaree said. “I look forward to contributing to the board as Xcel Energy continues its innovation and growth, making energy work better for its customers and stakeholders.”
Xcel Energy has positioned itself as a leader in clean energy and sustainability, with ambitious goals to reduce carbon emissions and expand its renewable energy portfolio. The company serves millions of electric and natural gas customers across eight states and has been investing billions of dollars in clean generation, transmission infrastructure, and grid modernization. Board leadership with deep expertise in technology and transformation is increasingly seen as essential to supporting these long-term objectives.
Demaree’s educational background further complements her professional experience. She holds a Master of Science degree in Systems Engineering from the University of Pennsylvania and a Bachelor of Science degree in Computer Science from Pennsylvania State University. Her academic training in systems thinking and computer science has informed her approach to managing complex, interconnected organizations and technology ecosystems.
With Demaree’s addition, Xcel Energy continues to strengthen its board with leaders who bring diverse perspectives and specialized expertise aligned with the evolving demands of the utility industry. As the company navigates challenges related to decarbonization, digitalization, and infrastructure resilience, her insights into enterprise transformation, cybersecurity, and large-scale operations are expected to play an important role in guiding strategic decision-making.
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