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July 29 (Reuters) – U.S. utility Southern Co (SO.N) Chief Govt Tom Fanning is expected to stage down by the finish of this yr and the firm has introduced a search for his successor, Bloomberg Information noted on Friday, citing people today familiar with the subject.
Fanning is envisioned to keep on being with Southern in some capacity after stepping down as CEO, the report explained. (https://bloom.bg/3zmkTvQ)
Fanning, 65, advised Bloomberg in an job interview that he would like to stay CEO until Southern’s Vogtle nuclear plant growth is comprehensive, the report claimed.
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A organization spokesperson said that no timelines have been established regarding any probable retirement.
Southern on Thursday raised the charge estimate for the Vogtle plant expansion to about $10.5 billion. The plans are presently billions of dollars around spending budget and years driving schedule.
The Georgia, Atlanta-based mostly company also explained its 2nd-quarter net gain almost tripled to $1.11 billion.
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Reporting by Ruhi Soni in Bengaluru Modifying by Devika Syamnath
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