Southern CEO Fanning to exit, hunt on for successor – Bloomberg News
Thomas Fanning, president and chief government officer of Southern Co speaks to attendees all through the Office 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 anticipated to step down by the finish of this 12 months and the firm has introduced a lookup for his successor, Bloomberg News claimed on Friday, citing individuals acquainted with the issue.
Fanning is envisioned to remain with Southern in some capacity soon after stepping down as CEO, the report claimed. (https://bloom.bg/3zmkTvQ)
Fanning, 65, instructed Bloomberg in an job interview that he needs to continue being CEO till Southern’s Vogtle nuclear plant expansion is finish, the report claimed.
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A enterprise spokesperson reported that no timelines have been established concerning any possible retirement.
Southern on Thursday lifted the price tag estimate for the Vogtle plant growth to about $10.5 billion. The ideas are now billions of pounds above spending plan and a long time powering plan.
The Ga, Atlanta-dependent company also explained its 2nd-quarter net gain virtually tripled to $1.11 billion.
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Reporting by Ruhi Soni in Bengaluru Modifying by Devika Syamnath
Our Standards: The Thomson Reuters Trust Principles.
