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July 29 (Reuters) – U.S. utility Southern Co (SO.N) Chief Government Tom Fanning is envisioned to move down by the close of this 12 months and the company has introduced a search for his successor, Bloomberg News documented on Friday, citing individuals common with the issue.
Fanning is expected to continue being with Southern in some ability just after stepping down as CEO, the report mentioned. (https://bloom.bg/3zmkTvQ)
Fanning, 65, told Bloomberg in an job interview that he desires to keep on being CEO until eventually Southern’s Vogtle nuclear plant expansion is comprehensive, the report said.
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A business spokesperson mentioned that no timelines have been established pertaining to any possible retirement.
Southern on Thursday lifted the price estimate for the Vogtle plant expansion to about $10.5 billion. The ideas are now billions of bucks in excess of price range and a long time powering timetable.
The Ga, Atlanta-based mostly company also said its next-quarter internet earnings nearly tripled to $1.11 billion.
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Reporting by Ruhi Soni in Bengaluru Editing by Devika Syamnath
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