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Fanning is expected to remain with Southern in some capacity after stepping down as CEO, the report said. (https://bloom.bg/3zmkTvQ)
Fanning, 65, told Bloomberg in an interview that he wants to remain CEO until Southern’s Vogtle nuclear plant expansion is complete, the report said.
A company spokesperson said that no timelines have been set regarding any potential retirement.
Southern on Thursday raised the cost estimate for the Vogtle plant expansion to about $10.5 billion. The plans are already billions of dollars over budget and years behind schedule.
The Georgia, Atlanta-based firm also said its second-quarter net profit nearly tripled to $1.11 billion.
