SAN ANTONIO – CPS Energy announced its interim chief executive officer on Thursday as the utility company searches for a long-term replacement of CEO Rudy Garza.
Frank Almaraz was named interim president and CEO, the utility said in a news release.
Almaraz was hired by CPS in 2011 to work as vice president of corporate development and ended his tenure as chief power, sustainability and business development officer in 2022.
CPS rehired Almaraz last February as chief operating officer, and he was promoted to interim CEO on Thursday, according to the release.
Almaraz succeeds Garza, who has served as president and CEO since 2022. Garza filed paperwork to retire from the utility, according to an internal memo obtained by KSAT Investigates on Monday.
Additionally, Garza was named general manager of the Lower Colorado River Authority, a nonprofit utility company that provides power and water based in Austin, on Monday.
Garza won’t leave CPS until the end of June as the utility searches for a permanent CEO replacement, according to the news release.
Chair Francine Romero, Trustee Erika Gonzalez and all board members will lead the search for selecting candidates for the next president and CEO, the release said.
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