RESIDENT PROFILE

Dollars and Sense: Del Hock

Del Hock opened his front door and welcomed us, his interviewers, into the Cherry Creek North home he shares with Millie, his wife of 51 years. In an age of corporate executives whose heads are often too big for their hats, it was refreshing to find this legendary man so accessible. We were on time, and he was ready for us. Although dressed in a gentlemanly casual style, he was, as professionals always are, prepared and geared up for a meeting. With easy gestures, he showed us into a tastefully designed yet comfortable home office where he rearranged the chairs so that we could sit closer together, instead of being separated by his large desk. He was instantly charming, but, at the same time, remembered to provide the requested biographical sketch. It was a very modest one, we found.

Del Hock is, after all, the former Chairman and CEO of Excel Energy. This is also the man for whom the Denver Metro Chamber of Commerce has named their annual leadership award. The Del Hock Lifetime Achievement Award is given each year in honor of "an individual whose wisdom, involvement and leadership ultimately determines the destiny of a community." A destiny maker! He was the first recipient and he set the bar very high.

And he had to work with some of the toughest issues Denver and Colorado have faced in the modern era, economically, politically and environmentally. He steered not only the public utility company...the literal energy that powered our city and our state...but also helped the "the powers that be" navigate through some of the most important stages of change and growth.

A native, Del Hock was born in Colorado Springs and grew up in Limon where his father was in the grain business. Graduating from CU in l956 with a Bachelor of Science Degree in Business Administration and Accounting, he worked first for General Electric. He soon realized that at GE "Success" was spelled "S-c-h-e-n-e-c-t-a-d-y" ...and he returned to his beloved Colorado to work for Arthur Young & Company as a certified public accountant. In 1962, he began his career with Public Service Company of Colorado as Director of Auditing. He was gradually promoted up the ranks of senior management and executive positions in finance and operations to the Board of Directors in 1985. He became President and Chief Operating Officer in l986, President and CEO in l988 and Chairman of the Board in l989.

This was an interesting, critical and even dangerous time to be in the energy business. Following WWII, the booming US economy resulted in soaring demands for energy and a rapid growth in electric utilities. The experimentation with nuclear power and the new technologies around it were becoming reality by the 1960's. By the 1970's, however, financial issues and government regulation were complicating matters. And in Colorado, PSC's Fort St. Vrain was unique in that it was a one-of-a-kind, "helium-cooled" nuclear power plant. Problems that arose had no real comparison or precedent solutions, and the plant was down more often than not. Eventually the plant was bleeding revenues dry.

Complicating matters were the accidents at Three Mile Island (1979) and Chernobyl (l986). Fear of nuclear disaster heightened public dissent. If, when, and how to close the plant, what to do with the radioactive materials, and how to decommission and dispose of or convert the remaining facility required hard choices, brave decisions, and moral integrity. There were of course delicate political issues, government restrictions, public policies, and the science to be considered. Not to mention the money. The energy future of Colorado and its citizens was really on the table. It would take courage and conscience to get it right.

Del isn't a man who drops names; he neither tries to impress by mentioning celebrities or statesmen...nor does he mention any names to blame in connection with this difficult period. He inherited a potential powder keg and over a seven-year period, ultimately resolved it with a view to the bigger picture, the longer run, the higher ground. He is quick to make clear that he shares credit for the good outcomes with "many" others who came together to do the right thing for Colorado.

And the right thing was the hard thing. Decommissioning Fort St. Vrain was a volatile, costly and even dangerous process. Some executives would have simply done whatever was permissible to cut their losses. He chose to do the responsible thing that was best for Colorado's future, its energy resources, and its citizens. It could have gone so wrong. Many would say that his financial talents and sound ideas, his commitment to business ethics, his personal courage and sense of fairness, and his concern for the people of Colorado ultimately resulted in a "belle epoque" of growth and flourishing for our city and our state.

Del will tell you that he believes they succeeded partly because of something else: something he had been working on for most of his professional life. He understood, as the best of corporate leaders do, that it's important for a company to be a part of the community in which it exists and to give back to the people who have supported the company's success. He served on many non-profit boards and served in volunteer capacities, building a bank of goodwill because it was the right thing to do. He felt that since the community represented his customers, he owed them something in return. He would ask, "How can I have a "box" at the Broncos game unless it's big enough for me to invite all my customers?!" So he found other ways: chairing the General Campaign for Mile High United Way; chairing the boards of the Colorado Symphony and the Denver Metro Chamber of Commerce during a time when the city's economy was on the rocks; helping Mayor Webb's emergency task force to work on the baggage problems at DIA; and serving on a score of boards for medical, educational, agricultural, and economic organizations.

Retired now, he is still committed to his long-term, most important jobs of husband, father, and grandpa. He also still consults and keeps up his professional memberships. He serves as director for a utility and an equipment company but still makes time to accept opportunities such as teaching a Leadership class in the Business School at CU. "It's not just how to give a good speech that counts...it's about good faith efforts, the public trust, integrity, fairness, and courage. And telling the truth even to those who don't think they want to hear it. All of that...and that key involvement in the community." And yes, he is a concerned member of the Cherry Creek North Neighborhood Association!

He has won numerous awards but they are not on display as one might expect with some former executives. There is just one small modestly framed proclamation hanging on an out-of-the-way wall. It was presented to him by his company's Board of Directors upon his retirement in January 1996 expressing their overwhelming gratitude. Too long to be reprinted here, a few key phrases stand out:

For his service in a period of "unprecedented challenge and change, including the decommissioning of Fort St. Vrain...for giving "excellent financial results to its shareholders and decreasing energy costs to its customers"...and because his "ethical standards were above reproach and were made a part of the way the company does business"...and because "he shirked no duty, avoided no difficult decision, and expected of no one anymore than he expected of himself" ... and because, "through his leadership, the company will bear his mark for years to come."

That's the most important praise a business and community leader could receive. And still, he received us like old friends, pushing the chairs closer together.