According to the report, Fanning is expected to remain at Southern in some capacity after stepping down as CEO. (https://bloom.bg/3zmkTvQ)
Fanning, 65, told Bloomberg in an interview that he wanted to remain CEO until the expansion of Southern’s Vogtle nuclear power plant is complete, according to the report.
A company spokesperson said no timetable has been set for a possible retirement.
On Thursday, Southern raised the cost estimate of the Vogtle plant expansion to around $10.5 billion. Plans are already billions of dollars over budget and years behind schedule.
The Georgia-based Atlanta company also said its second-quarter net profit nearly tripled to $1.11 billion.