Southern Co. ( NYSE: SO ) said Thursday it appointed Chris Womack as its new President effective March 31 and as CEO immediately following the conclusion of the 2023 annual shareholders meeting.
Womack will join the company's board, which will be increased to 14 members from 13 in connection to his election.
Current Chairman, President and CEO Tom Fanning will step down as President upon Womack's assumption of the role in March and become Executive Chairman when Womack takes on the role of CEO.
Womack joined Southern ( SO ) is 1988 and has served as President of Georgia Power since 2020 and the unit's Chairman, President and CEO since 2021.
Fanning became Southern's ( SO ) Chairman, President and CEO in 2010; he has worked for the company for more than 35 years, holding 15 different positions in eight different business units.
Southern ( SO ) has a strong balance sheet and a strong record of producing significant free cash flow, IncomeBent Investments writes in an analysis newly posted on Seeking Alpha .
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Southern taps Womack as new President, CEO; Fanning to become executive chair