Georgia Power names new Prez, CEO
Electric utility Georgia Power has already named President and Chief Executive Officer Michael Garrett’s replacement after he announced his retirement Thursday, according to BusinessWeek
Beginning Dec. 31, Chief Operating Officer W. Paul Bowers will fill Garrett’s former role, having been with parent Southern Company since 1979.
Since then, he has progressed through roles of increasingly responsibility across various functional areas.
From 1990 to 1998, Bowers led Atlanta-based Georgia Power’s marketing and sales organization, rising to senior vice president in 1995, before being named president and CEO of Southern Company’s United Kingdom subsidiary South Western Electricity plc.
He also served as president of Southern Company Generation, directing areas like fleet operation and environmental affairs, while overseeing Southern Power, the company’s generation subsidiary.
In 2008, Bowers filled the role of chief financial offer, managing accounting; finance; tax; investor relations; treasury; and risk management.
Georgia Power, Southern Company’s largest subsidiary, serves 2.3 million customers in all but four of Georgia’s 159 countries.
With 4.3 million customers in Alabama, Florida, Georgia and Mississippi, Southern Company is the world’s 16th largest utility company and the fourth largest in the United States.
Garrett said on the record that he expects Bowers to do great things at Georgia Power
, including leading the utility’s efforts to eventually build a nuclear plant.
“Paul's experience and leadership have been key to maintaining consistency, stability and long-term success throughout our company,” Southern Company President Tom Fanning, who will assume the additional roles of chairman and CEO in December, added in a prepared statement. “Mike led Georgia Power during periods of sustained growth and economic challenges. We are grateful for his service.”
A company representative speaking on background told WinmoEdge that Bowers isn’t prepared to discuss his new position at this time, especially since he isn’t making the transition until the end of December.
Fanning continued in a company release that Southern Company and Georgia Power, don’t expect many challenges during Bowers’s transitional period because of his time spent with the company.
Once he begins in his new function, Bowers will help Georgia Power build upon Southern Company’s third-quarter revenues of $5.32 billion, a 13.6-percent increase from the $4.68 billion that was reported during the same period a year ago.
The company said this boost came from warmer-than-normal weather during the third quarter ending Sept. 30th and a stronger-than-expected recovery in the industrial sector.
“While our residential and commercial customers continue to face challenges, the growing strength of our industrial base confirms the Southeast as one of the strongest economies in the U.S.,” Southern Company Chief Executive Officer David Ratcliffe said in a prepared statement. “As the region begins to make slow strides toward recovery, we will continue our emphasis on exceptional service, industry-leading reliability and prices below the national average.”
According to The List database, Georgia Power contracts Dallas-based The Richards Group Inc. for its creative; Grey Group for its products & services; and OMD for its media buying and planning. The latter two agencies have business units in Atlanta.
The Nielsen Company reported that Georgia Power allocated $2.7 million towards advertising in 2009. About $1.4 million went towards spot television ads, about $540,000 went towards spot radio ads and about $290,000 went towards Internet ads.
Georgia Power Company
241 Ralph McGill Boulevard, Northeast
Atlanta, GA 30308
W. Paul Bowers
President & Chief Executive Officer
President – Southern Company
Marketing Manager, Interactive Marketing & Strategy