CPS Energy named an interim CEO and started its official search for a new leader.
In a short announcement at its Thursday afternoon board meeting, CPS Energy Board Chair Francine Romero thanked outgoing CEO Rudy Garza and named Frank Almaraz as the public utility’s interim head.
Garza announced his retirement from CPS Energy on Monday. He will lead the Lower Colorado River Authority, a state-created water and power agency based in Austin.
Almaraz has no plans for drastic changes, he said in a CPS Energy press release.
“Our team is committed to continuing on the strategic path laid out by the board over the past several years,” he said.
Almaraz has served as chief operating officer for five months when he was hired on from the private sector. He’s still a familiar face, though. It’s his second time working at CPS Energy, according to the utility’s website.
Between 2011 and 2021, he served in a variety of leadership roles, focusing on financial and business planning and natural gas and power trades. He left the position of chief power, sustainability and business development officer at the end of 2021.
Almaraz was CEO of Braya Renewable Fuels, a company focused on producing diesel from corn and soy oil at its refinery in Canada, until 2025. He then served as interim CEO for Young Brothers, LLC, an inter-island freight company in Hawaii between January 2025 and February 2026, before returning to CPS Energy.
“The Personnel Committee has confidence that his background and experience make him the appropriate leader to serve in this interim role. We believe Mr. Almaraz will successfully continue advancing our strategic priorities,” Romero said.
Romero said CPS Energy’s board had activated its CEO Search Committee, a part of its Personnel Committee which will head its leadership search. Romero and fellow board member Erika Gonzalez will lead that effort.
“We will have a robust process that selects the right candidate to continue moving CPS Energy into the future,” Romero said.
Romero praised Garza’s service to the utility, noting his work building CPS Energy’s executive team and crafting strategic plans that look as far out as 2050.
Mayor Gina Ortiz Jones also praised Garza earlier this week, specifically his role in stabilizing CPS Energy after Winter Storm Uri.
“I’m thankful for Rudy’s steadfast leadership that saw CPS emerge from Winter Storm Uri well-positioned to seize on strategic investments that secured resilient, clean and affordable energy for our community. His leadership and compassion for our community will be missed, and I wish him the very best in his next steps,” Jones said in a statement Tuesday.
Jones serves on CPS Energy’s board of trustees.
CPS Energy was considering its budget and a possible rate increase before Garza stepped aside. Utility officials were cautioned by San Antonio City Council about the timing and decision-making process for its rate changes earlier this year as officials also grapple with potential water rate and property tax adjustments.
