Southern Company announces CFO transition
Rhea-AI Summary
Southern Company (NYSE:SO) announced a significant leadership transition as CFO Daniel S. Tucker plans to retire, with David P. Poroch, currently senior vice president, comptroller and chief accounting officer, set to succeed him effective July 31, 2025.
Tucker, who joined Southern Company in 1998 and became CFO in September 2021, will transition to a senior advisory role until his retirement on October 1, 2025. Both executives will participate in the second quarter earnings call on July 31, 2025.
Poroch, who joined Southern Company in 2012, brings extensive utility sector experience, including previous roles as CFO at both Georgia Power and Southern Company Gas. Prior to joining Southern Company, he was a partner at Deloitte & Touche LLP with nearly two decades of utilities sector experience.
Positive
- Smooth leadership transition with overlap period ensures continuity
- New CFO brings extensive utility sector experience and deep understanding of the company
- Strong internal succession planning demonstrated through promotion from within
Negative
- Loss of experienced CFO who has been with the company since 1998
News Market Reaction
On the day this news was published, SO declined 0.64%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Tucker, who joined Southern Company in 1998, was named CFO in Sept. 2021. During his tenure as CFO, he prioritized the company's objectives of delivering regular and predictable results, ensuring strong financial integrity across the enterprise, highlighting the quality of Southern Company's value proposition with investors, and positioning the company to capture tremendous growth opportunities in the coming years. During his career, Tucker held various positions of increasing responsibility, including Southern Company senior vice president and treasurer, and executive vice president and chief financial officer of both Southern Company Gas and Georgia Power.
"On behalf of the entire Southern Company team, I want to congratulate Dan on an incredible career with Southern Company and thank him for everything he has done to support our company's success," said Womack. "For decades, his counsel, strategic advice and leadership of finance and risk management has been foundational in helping us navigate the challenges we've had, capture the incredible growth opportunities we're seeing and seize the bright future ahead of us. You can always see Dan's passion for our company most when he is helping to develop our future leaders and when he is engaged with the investment community to tell our story. While Dan's presence will be greatly missed, we wish him a happy and well-deserved retirement."
Poroch began his career with Southern Company in 2012 as vice president and chief audit executive of Southern Company Services. This was the first of multiple leadership roles for Poroch across Southern Company, taking on greater responsibility and gaining valuable insights into the company's business portfolio. In 2014, he assumed the role of vice president and comptroller of Georgia Power. From there, Poroch served in executive roles at two of the company's major subsidiaries – Georgia Power and Southern Company Gas. He was named executive vice president, CFO and treasurer of Georgia Power in 2019, where he oversaw accounting and financial reporting, financial planning and analysis, budgeting and treasury functions. As part of his leadership development and to expand his company experience with its natural gas distribution utilities, he assumed the role of executive vice president and chief financial officer at Southern Company Gas in 2021, where he directed finance, accounting, business planning and risk management functions for the company before stepping into the Southern Company comptroller and chief accounting officer role in 2023. Prior to joining Southern Company, he was a partner with Deloitte & Touche LLP, where he gained nearly two decades of experience in the utilities sector.
"David has a deep understanding of our business – serving in multiple financial and regulatory leadership roles across our operating companies," added Womack. "His track record demonstrates his deep commitment to serving all of our stakeholders well, putting customers at the center of everything we do and running our company as efficiently and effectively as we can. David's selection is another example of the strong, deep leadership bench we have built here at Southern Company and a testament to our robust, long-term succession planning. We know that to continue serving customers with excellence for decades to come we need to have the right pipeline of leaders in place. I know he will continue to contribute to Southern Company's success in his new role."
About Southern Company
Southern Company (NYSE: SO) is a leading energy provider serving 9 million customers across the Southeast and beyond through its family of companies. Providing clean, safe, reliable and affordable energy with excellent service is our mission. The company has electric operating companies in three states, natural gas distribution companies in four states, a competitive generation company, a leading distributed energy solutions provider with national capabilities, a fiber optics network and telecommunications services. Through an industry-leading commitment to innovation, resilience and sustainability, we are taking action to meet customers' and communities' needs while advancing our goal of net-zero greenhouse gas emissions by 2050. Our uncompromising values ensure we put the needs of those we serve at the center of everything we do and are the key to our sustained success. We are transforming energy into economic, environmental and social progress for tomorrow. Our corporate culture has been recognized by a variety of organizations, earning the company awards and recognitions that reflect Our Values and dedication to service. To learn more, visit www.southerncompany.com.
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SOURCE Southern Company
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