Southern CEO Fanning to exit, hunt on for successor – Bloomberg News
Thomas Fanning, president and main govt officer of Southern Co speaks to attendees all through the Section of Homeland Security’s Cybersecurity Summit in Manhattan, New York, U.S., July 31, 2018. REUTERS/Eduardo Munoz
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July 29 (Reuters) – U.S. utility Southern Co (SO.N) Main Govt Tom Fanning is expected to step down by the conclude of this year and the organization has launched a look for for his successor, Bloomberg Information noted on Friday, citing folks familiar with the issue.
Fanning is expected to remain with Southern in some potential immediately after stepping down as CEO, the report mentioned. (https://bloom.bg/3zmkTvQ)
Fanning, 65, told Bloomberg in an interview that he needs to continue to be CEO until eventually Southern’s Vogtle nuclear plant expansion is comprehensive, the report said.
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A organization spokesperson explained that no timelines have been established pertaining to any opportunity retirement.
Southern on Thursday lifted the price tag estimate for the Vogtle plant growth to about $10.5 billion. The plans are now billions of bucks over spending plan and years driving schedule.
The Ga, Atlanta-primarily based company also said its next-quarter net income just about tripled to $1.11 billion.
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Reporting by Ruhi Soni in Bengaluru Enhancing by Devika Syamnath
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