Atlanta, November 17, 2010 – President and CEO Michael D. Garrett announced his retirement and the Georgia Power Board of Directors elected W. Paul Bowers as his successor, effective December 31.
“Paul grew up in the business, he’s very bright and he cares about people,” Garrett said. “I am confident that he is the right person to lead this company in our efforts to build the nation’s first new nuclear plant in 30 years.”
“Paul’s experience and leadership have been key to maintaining consistency, stability and long-term success throughout our company,” said Southern Co. President Tom Fanning, who will assume the additional roles of chairman and CEO in December. “Mike led Georgia Power during periods of sustained growth and economic challenges. We are grateful for his service.”
Bowers, 53, is currently Georgia Power’s chief operating officer. He joined Southern Co. in 1979 at Gulf Power and progressed through roles of increasing responsibility across a wide variety of functional areas.
“Georgia Power is a great company, with a talented team serving our customers,” Bowers said. “It is an honor to have been asked to lead this organization as we take on the challenges that lie ahead.”
From 1990 to 1998, Bowers led Georgia Power’s marketing and sales organizations, rising to senior vice president in 1995. In 1998, he was named president and CEO of South Western Electricity, plc, the former United Kingdom subsidiary of Southern Co.
From 2001 to 2008, Bowers was president of Southern Co. Generation where he oversaw fossil and hydro generation, fleet operations, research and environmental affairs, engineering and construction services, and the company’s competitive generation subsidiary, Southern Power.
Bowers was named Southern’s chief financial officer in 2008, where he directed accounting, finance, tax, investor relations, treasury and risk management functions and also served as the chief risk officer.
Bowers serves on the boards of Nuclear Electric Insurance Limited and e3 Partners Ministry as well as the University of Alabama School of Engineering Board of Advisors. He also is a member of the Federal Reserve Bank of Atlanta’s energy policy council.
A Pensacola, Fla., native, Bowers graduated from the University of West Florida in 1978 and holds a master’s degree in management from Troy University. In 1993, he completed the Advanced Management Program at Harvard Business School.
“What’s great about Southern Co. is we have the bench strength in people like Paul who can step in and pick up where others left off and keep moving us forward,” Fanning added.
Georgia Power is the largest subsidiary of Southern Co., one of the nation’s largest generators of electricity. The company is an investor-owned, tax-paying utility with rates well below the national average. Georgia Power serves 2.3 million customers in all but four of Georgia’s 159 counties.