Summary
This 8-K filing from Southern Company (SO) announces a significant executive transition within its accounting and financial leadership. Effective March 31, 2013, Ann P. Daiss, currently Vice President, Comptroller, and Chief Accounting Officer of Georgia Power, will assume the role of Comptroller (principal accounting officer) for Southern Company, and also Senior Vice President and Comptroller of Southern Company Services, Inc. This appointment marks a step up in responsibility for Ms. Daiss within the corporate structure. Ms. Daiss's promotion results in a leadership change for the Comptroller position, with W. Ron Hinson moving to an executive role at Georgia Power. Investors should note Ms. Daiss's compensation package, which includes a base salary of $273,370, with annual performance-based and long-term performance-based compensation targets set at 50% and 70% of her base salary, respectively. This filing provides transparency into the company's executive appointments and compensation structure.
Key Highlights
- 1Ann P. Daiss appointed as Southern Company's Comptroller (principal accounting officer) effective March 31, 2013.
- 2Ms. Daiss will also serve as Senior Vice President and Comptroller of Southern Company Services, Inc.
- 3W. Ron Hinson, the outgoing Comptroller, will become Executive Vice President, Chief Financial Officer, Treasurer, and Comptroller of Georgia Power.
- 4Ms. Daiss's new annual base salary will be $273,370.
- 5Her annual performance-based compensation target is set at 50% of base salary.
- 6Her annual long-term performance-based compensation target is set at 70% of base salary.
- 7The filing details an executive leadership change in the accounting function of Southern Company and its subsidiary.