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

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

Register now for Cost-free limitless obtain to Reuters.com

July 29 (Reuters) – U.S. utility Southern Co (SO.N) Chief Govt Tom Fanning is expected to phase down by the conclude of this 12 months and the corporation has introduced a research for his successor, Bloomberg Information reported on Friday, citing folks common with the issue.

Fanning is envisioned to keep on being with Southern in some ability right after stepping down as CEO, the report stated. (https://bloom.bg/3zmkTvQ)

Fanning, 65, explained to Bloomberg in an job interview that he wants to continue to be CEO until eventually Southern’s Vogtle nuclear plant enlargement is comprehensive, the report said.

Sign up now for No cost limitless entry to Reuters.com

A corporation spokesperson mentioned that no timelines have been established about any prospective retirement.

Southern on Thursday elevated the charge estimate for the Vogtle plant expansion to about $10.5 billion. The ideas are now billions of bucks around spending plan and a long time guiding timetable.

The Ga, Atlanta-primarily based organization also explained its next-quarter internet financial gain practically tripled to $1.11 billion.

Register now for No cost unlimited access to Reuters.com

Reporting by Ruhi Soni in Bengaluru Modifying by Devika Syamnath

Our Requirements: The Thomson Reuters Belief Concepts.