8-KLeadership Changes

SOUTHERN CO 8-K Report, Executive Changes (Feb 7, 2023)

Filed February 7, 2023For Securities:SOSOJESOJFSOJCSOJDSOMN

Summary

Southern Company (SO) filed an 8-K on February 7, 2023, reporting a change in its principal accounting officer. Ann P. Daiss, the current Comptroller, has announced her retirement effective March 1, 2023. This marks a transition in a key financial leadership role within the company. Concurrently, the Board of Directors has appointed David P. Poroch as the new Comptroller, also effective March 1, 2023. Mr. Poroch brings extensive experience within the Southern Company system, most recently serving as Executive Vice President, Chief Financial Officer, Chief Risk Officer, and Treasurer of Southern Company Gas. His appointment to this critical accounting role suggests a focus on experienced internal leadership for financial oversight.

Key Highlights

  • 1Ann P. Daiss, the current Comptroller (principal accounting officer), announced her retirement.
  • 2David P. Poroch has been appointed as the new Comptroller, effective March 1, 2023.
  • 3Mr. Poroch currently holds significant financial leadership roles at Southern Company Gas.
  • 4His previous experience includes executive financial positions at Georgia Power Company.
  • 5Mr. Poroch's new base salary will be $475,000 annually.
  • 6Performance-based compensation targets for Mr. Poroch include 55% of base salary for annual performance and 95% of base salary for long-term performance.

Frequently Asked Questions

David P. Poroch, currently Executive Vice President, Chief Financial Officer, Chief Risk Officer, and Treasurer of Southern Company Gas, has been appointed as the new Comptroller.

Both Ann P. Daiss's retirement and David P. Poroch's appointment as Comptroller are effective March 1, 2023.

Mr. Poroch's new base salary will be $475,000 per year, with an annual performance-based compensation target of 55% of his base salary and a long-term performance-based compensation target of 95% of his base salary.

Yes, Mr. Poroch has extensive experience within the Southern Company system, including previous executive financial roles at Georgia Power Company and his current role at Southern Company Gas.