8-KLeadership Changes

SOUTHERN CO 8-K Report, Executive Changes (Jan 7, 2013)

Filed January 7, 2013For Securities:SOSOJESOJFSOJCSOJDSOMN

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.

Frequently Asked Questions

Ann P. Daiss has been appointed as the new Comptroller (principal accounting officer) of Southern Company, effective March 31, 2013. She previously served as Vice President, Comptroller and Chief Accounting Officer of Georgia Power.

Effective March 31, 2013, Ms. Daiss's base salary will be $273,370 per year. Additionally, her annual performance-based compensation target is 50% of her base salary, and her annual long-term performance-based compensation target is 70% of her base salary.

This filing indicates a planned succession in a key financial role, providing transparency into the company's leadership structure and compensation. The appointment of Ms. Daiss and the subsequent move of Mr. Hinson demonstrate internal progression and a clear transition plan for financial oversight.

Prior to her appointment as Comptroller of Southern Company, Ann P. Daiss was the Vice President, Comptroller and Chief Accounting Officer of Georgia Power Company, a subsidiary of Southern Company.