Southern Company elects new independent director

ATLANTA - Southern Company (NYSE: NYSE:SO), a leading energy provider with a market capitalization of $94.7 billion, has announced the election of James O. Etheredge as an independent director to its Board of Directors, effective April 1, 2025. The company, which has delivered a robust 31% return to shareholders over the past year, has not yet determined the specific board committee assignments for Etheredge. According to InvestingPro analysis, Southern Company currently maintains a GOOD financial health score, suggesting strong operational fundamentals.

Etheredge brings to the board a wealth of experience from his tenure at Accenture plc (NYSE:ACN), where he served as CEO of North America from September 2019 until August 2023 and subsequently as a special advisor until July 2024. During his leadership at Accenture, Etheredge oversaw an 80,000-member team and was responsible for delivering results across various practices, including strategy and consulting, interactive, technology, and operations.

Prior to his role as CEO, Etheredge was the Senior Managing Director of US Southeast at Accenture from December 2016 to September 2019, leading the company’s business in ten states across diverse consulting specialties and client industry segments. He joined Accenture in 1985, becoming a partner in 1997 and an executive partner in 2011. His advisory work has spanned the utilities industry both in the U.S. and internationally. For investors seeking deeper insights into Southern Company’s performance and prospects, InvestingPro offers comprehensive analysis through its Pro Research Report, part of its coverage of over 1,400 US equities.

Etheredge’s background is further complemented by his engagement with several organizations. He serves as a trustee of the Georgia Tech Foundation, on the board of Encora Digital LLC, as deputy chair of the board of the Federal Reserve Bank of Atlanta, and on the boards of various non-profits including the Woodruff Arts Center and the Atlanta Police Foundation.

Chris Womack, chairman, president, and CEO of Southern Company, praised Etheredge’s extensive leadership experience and strategic insight, noting that these qualities align with the company’s objectives and will be an invaluable addition to the board.

Southern Company serves 9 million customers across the Southeast and beyond, with a mission to provide clean, safe, reliable, and affordable energy. The company operates electric companies in three states, natural gas distribution companies in four states, and also offers a competitive generation company, distributed energy infrastructure, a fiber optics network, and telecommunications services. With an impressive track record of maintaining dividend payments for 55 consecutive years and raising them for 23 straight years, Southern Company currently offers a 3.3% dividend yield. The company has set a goal of achieving net-zero greenhouse gas emissions by 2050 and emphasizes innovation, resilience, and sustainability in its operations. While recent InvestingPro data shows four analysts revising their earnings expectations downward for the upcoming period, the company maintains solid profitability with a gross margin of 50%.

The information in this article is based on a press release statement from Southern Company.

In other recent news, Southern Co . has been the subject of several important developments. Mizuho (NYSE:MFG) Securities analyst Anthony Crowdel has increased the company’s stock price target to $85, up from $83, while maintaining a Neutral rating. This adjustment followed Southern Co.’s subsidiary, GA Power, filing their 2025 Integrated Resource Plan (IRP), which includes significant investments in the company’s existing energy fleet and a proposal to add up to 4,000 megawatts of renewable resources by 2035.

In a separate development, Southern Co. has finalized the sale of $565 million in junior subordinated notes. The notes were offered under the company’s shelf registration statement, with the proceeds expected to be used for various corporate purposes. In addition, Southern Linc, another Southern Co. subsidiary, received vital satellite network capacity from Gilat Satellite Networks Ltd (NASDAQ:GILT). and Hispasat for uninterrupted emergency communication in Georgia following Hurricane Helene.

The company also announced a leadership change, with Stanley W. Connally, Jr. set to become the new Executive Vice President and Chief Operating Officer. Lastly, Santee Cooper, a company that utilizes Southern Company’s AP1000 technology, has initiated a process to seek proposals for the acquisition and completion of two partially constructed generating units at the V.C. Summer Nuclear Station in South Carolina. These are the recent developments revolving around Southern Co.

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