Southern Company appoints David P. Poroch as CFO, Daniel S. Tucker to retire

Southern Company (NYSE:SO), a $102.5 billion utility giant with a "GOOD" financial health rating according to InvestingPro, announced Thursday the appointment of David P. Poroch as Executive Vice President and Chief Financial Officer, effective July 31. Poroch, who currently serves as Comptroller, will succeed Daniel S. Tucker. Tucker will step down as CFO on July 31 and continue with the company as a senior advisor to the Chief Executive Officer until his retirement on October 1.

According to a statement from the company’s press release, Tucker and Southern Company Services, Inc. expect to enter into a consulting agreement. Under the expected terms, Tucker will serve as a consultant to Southern Company Services from October 1, 2025, to September 30, 2027. He will receive $300,000 in cash for each year of his consulting services. The company stated that the full text of the consulting agreement will be filed as an exhibit to its Quarterly Report on Form 10-Q for the period ending September 30, 2025.

Poroch, age 56, has served as Comptroller of Southern Company since March 2023. His previous roles include Executive Vice President, Chief Financial Officer, Chief Risk Officer, and Treasurer of Southern Company Gas from January 2021 to February 2023. Prior to that, he held several executive positions at Georgia Power Company, including Executive Vice President, Chief Financial Officer, and Treasurer from April 2019 to December 2020, and Comptroller from August 2014 to August 2020.

The company noted that compensation decisions for Poroch in his new role have not yet been made. Any material changes to his compensation will be reported in an amendment to the current report.

This information is based on a statement from the company’s SEC filing.

In other recent news, Southern Company has made several notable announcements. The company has upsized its offering of convertible senior notes to $1.45 billion, increasing it by $200 million from the initial announcement. This move aims to repurchase existing convertible notes and pay down commercial paper borrowings. In another development, Jefferies upgraded Southern Co . stock from Hold to Buy, citing strong growth prospects and setting a price target of $100. The analysts highlighted potential wins in upcoming requests for proposals, which could drive significant rate base growth and earnings per share growth through 2035.

Additionally, Southern Company Gas subsidiaries, Virginia Natural Gas and Chattanooga Gas, have completed renewable natural gas purchases, reducing lifecycle emissions by 18,978 metric tons of carbon dioxide equivalent. This aligns with supportive policies in Virginia and Tennessee that encourage cleaner energy options. Southern Company also announced a CFO transition, with David P. Poroch set to succeed Daniel S. Tucker, who will retire in 2025. Poroch brings extensive financial leadership experience to his new role. These developments underscore Southern Company’s ongoing strategic initiatives and growth plans.

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