Southern Co adds former Accenture CEO to board

ATLANTA, GA - Southern Company (NYSE:SO), a utility giant with a market capitalization of nearly $95 billion, announced on Monday that it has appointed a new member to its board of directors. Mr. James O. (Jimmy) Etheredge, former Chief Executive Officer - North America of Accenture plc (NYSE:ACN), will join the board effective April 1, 2025. This development was disclosed in a recent 8-K filing with the Securities and Exchange Commission.

Etheredge, who retired from his role at Accenture in August 2023 and continued as an advisor until June 2024, brings extensive experience to Southern Company’s board. The specifics of his committee assignments within the board are yet to be determined and will be disclosed in an upcoming amendment to the current report.

As per the filing, there is no reported arrangement or understanding between Etheredge and any other person that influenced his selection as a director. He will be compensated in accordance with the company’s standard non-employee director cash and equity compensation program, details of which were outlined in the company’s proxy statement filed on April 12, 2024.

Southern Company, headquartered in Atlanta, Georgia, is a leading energy company serving 9 million customers through its subsidiaries. The company has maintained dividend payments for 55 consecutive years and currently offers a 3.3% dividend yield.

According to InvestingPro analysis, the company maintains a "GOOD" financial health score and appears to be trading near its Fair Value. The company’s common stock is listed on the New York Stock Exchange under the ticker symbol SO.

Investors and stakeholders of Southern Company may anticipate the expertise Etheredge gained at Accenture to play a role in guiding the company’s future strategies.

With analyst price targets ranging from $71 to $104 per share and multiple InvestingPro indicators suggesting strong financial performance, including 23 consecutive years of dividend raises, the appointment is a strategic move for Southern Company as it continues to navigate the complexities of the energy sector.

Discover more detailed analysis and insights about Southern Company through InvestingPro’s comprehensive research reports, available for over 1,400 US stocks.

This announcement is based on a press release statement and the company’s SEC filing, ensuring a factual representation of the event.

In other recent news, Southern Company has elected James O. Etheredge as an independent director, with his term set to begin on April 1, 2025.

Etheredge brings a wealth of experience from his tenure at Accenture plc, where he served in multiple leadership roles, including CEO of North America. His expertise in managing large teams and fostering innovation aligns with Southern Company’s objectives.

In a separate development, Mizuho (NYSE:MFG) Securities analyst Anthony Crowdel adjusted the price target for Southern Company’s shares, maintaining a Neutral rating. This adjustment followed Southern Co .’s subsidiary, GA Power, filing their 2025 Integrated Resource Plan 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 other company news, Southern Linc, a regional wireless communications service provider owned by Southern Company, partnered with Gilat Satellite Networks and Hispasat to provide vital satellite network capacity for uninterrupted emergency communication in Georgia following the devastating impact of Hurricane Helene.

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