Southern CEO Fanning to exit, hunt on for successor – Bloomberg News

Thomas Fanning, president and main executive officer of Southern Co speaks to attendees during the Department of Homeland Security’s Cybersecurity Summit in Manhattan, New York, U.S., July 31, 2018. REUTERS/Eduardo Munoz

July 29 (Reuters) – U.S. utility Southern Co (SO.N) Main Government Tom Fanning is anticipated to phase down by the conclusion of this yr and the corporation has introduced a search for his successor, Bloomberg News claimed on Friday, citing individuals familiar with the subject.

Fanning is predicted to keep on being with Southern in some capability following stepping down as CEO, the report claimed. (https://bloom.bg/3zmkTvQ)

Fanning, 65, informed Bloomberg in an interview that he would like to keep on being CEO right until Southern’s Vogtle nuclear plant enlargement is comprehensive, the report said.

A enterprise spokesperson reported that no timelines have been set regarding any opportunity retirement.

Southern on Thursday elevated the cost estimate for the Vogtle plant expansion to about $10.5 billion. The ideas are previously billions of dollars above price range and years powering agenda.

The Georgia, Atlanta-centered company also reported its next-quarter internet earnings just about tripled to $1.11 billion.

Reporting by Ruhi Soni in Bengaluru Editing by Devika Syamnath

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