Sundar PichaiSundar Pichai earned $164M in 2023
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Thomas A. Fanning

Ex-CEO of Southern Company

Education

University of Florida - Bachelor of Science in Accounting

Field of Expertise

Finance & Banking - Finance

Born

July 1, 1953 - 71 years ago

Economy Sector

Utilities

Tenure

12 years 5 months (Dec 2010 - May 2023)

Previous Experience

Executive Vice President and Chief Operating Officer of Southern Company

Thomas A. Fanning was the CEO of The Southern Company, a major utility that serves millions of customers across multiple states. He had a long career, working with the company for over four decades, starting as a financial analyst and...

Year

2023

Total Compensation

$6.06M

Salary

$1.50M

Board Justification

The compensation philosophy for the CEO at The Southern Company is designed to align with company performance, focusing on financial and operational goals. The philosophy emphasizes a mix of fixed and at-risk compensation to drive long-term value creation for stockholders.

Bonus

$4.42M

Board Justification

The bonus for Thomas A. Fanning in 2023 was based on the achievement of financial and operational goals, including EPS, net income, and operational performance metrics. The payout was calculated at 163% of the target, reflecting strong performance across these areas.

Other

$142.42K

Board Justification

Other compensation includes financial planning, personal use of corporate aircraft, and other miscellaneous perquisites.

Restricted Stock

$0.00(0 N/A)

Board Justification

No stock vested for Thomas A. Fanning in 2023 as he retired at the end of the year.

Performance Metrics

The performance metrics for determining the CEO's compensation in 2023 included EPS, net income, and operational performance goals such as safety, customer satisfaction, and reliability.