CPS Energy's Board of Trustees on June 4 named Frank Almaraz Interim President & Chief Executive Officer, effective immediately.
Outgoing President and CEO Rudy Garza will remain with the Texas public power utlity to support the transition through June 30, 2026. The Lower Colorado River Authority Board of Directors recently selected Garza as LCRA’s 12th general manager, effective July 20, 2026.
Chair Dr. Francine Romero and Trustee Dr. Erika Gonzalez will lead the CEO Search Committee responsible for selecting candidates for the President and CEO. All Board Members will be involved in the process.
Almaraz rejoined CPS Energy in February 2026 as Chief Operating Officer and previously worked at the utility from 2011 to 2022, with his last role being Chief Power, Sustainability, and Business Development Officer.
His experience at CPS Energy includes several senior leadership positions including Chief Administrative and Business Development Officer, Senior Vice President and Chief Financial Officer, and Vice President, Energy Supply and Market Operations.
“Frank has strong analytical, financial, and operational skills with deep experience leading teams to success including frontline employees,” said Romero. “We are confident that Frank, along with the established leadership team, will continue their focus on executing our strategies.”
“Our team is committed to continuing on the strategic path laid out by the Board over the past several years,” said Almaraz. “The demand for reliable, affordable energy continues to grow in our community, and we will remain focused on ensuring our teams work safely to provide the service our customers need.”
Prior to returning to CPS Energy, Almaraz served as CEO of Braya Renewable Fuels, a private equity backed company, and as Interim President for Young Brothers, LLC, Hawaii’s regulated inter-island freight transportation company.
He previously served as a member of the boards of the DoSeum, the San Antonio Hispanic Chamber of Commerce, and the American Gas Association.
