Southern's (SO) Chairman Thomas Fanning Retires After 43 Years
The Southern Company SO announced the retirement of its executive chairman Thomas A. Fanning, effective Dec 31.
Christopher C. Womack, currently serving as SO’s president and CEO, will take on the additional role of the chairman of the company’s board of directors.
Thomas Fanning, a stalwart in the energy industry, has been a pivotal figure at Southern for more than 43 years. His leadership played a crucial role in shaping SO’s strategies, fostering innovation and navigating the dynamic landscape of the energy sector.
In a statement released by Southern, Fanning expressed his gratitude for the years spent with the organization, stating, "It has been an honor to contribute to the growth and success of Southern over the past 43 years. I am immensely proud of what we have achieved together, and I have full confidence in the capable hands that will guide the company forward."
To ensure a smooth transition, SO has appointed Christopher Womack as the new chairman of the board. Womack, who joined Southern in 1988, brings a wealth of experience to the position, having held various leadership roles within the company.
SO affirms that Womack's strategic vision and industry expertise will undoubtedly play a pivotal role in sustaining the company's ongoing success.
Zacks Rank and Key Picks
Southern is an American utility firm that provides electricity to customers across the Southern United States. It is one of the country's largest energy companies, focusing on clean energy and sustainability. Currently, SO carries a Zacks Rank #3 (Hold).
Investors interested in the utility sector might look at some better-ranked stocks like Otter Tail OTTR, Consolidated Water CWCO and CenterPoint Energy, Inc. CNP. While Otter Tail sports a Zacks Rank #1 (Strong Buy) at present, Consolidated Water and CenterPoint Energy carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Otter Tail is valued at around $3.18 billion. In the past year, its shares have risen 29.6%.
OTTR, a company primarily focused on electric energy production, transmission, distribution and sale, also operates in Health Services Operations and Diversified Operations through its subsidiaries.
Consolidated Water is worth approximately $583.92 million. It currently pays dividends of 38 cents per share or 1.02% on an annual basis.
CWCO develops and operates seawater desalination plants and water distribution systems in scarce or nonexistent water sources, targeting tourist properties. The company operates in Retail, Bulk, Services and Manufacturing segments.
CenterPoint Energy is worth approximately $18.03 billion. It currently pays dividends of 80 cents per share or 2.80% on an annual basis.
CNP, a domestic energy delivery company, provides electric transmission & distribution, natural gas distribution and competitive natural gas sales and services operations.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Southern Company (The) (SO) : Free Stock Analysis Report
CenterPoint Energy, Inc. (CNP) : Free Stock Analysis Report
Otter Tail Corporation (OTTR) : Free Stock Analysis Report
Consolidated Water Co. Ltd. (CWCO) : Free Stock Analysis Report
