Georgia Power President and CEO Michael D. Garrett will retire at the end of the year, the utility company announced Wednesday.
The company's chief operating officer, W. Paul Bowers, 53, will take his place on Dec. 31, completing an executive transition that has been expected since Bowers first stepped into the COO job in July.
Garrett, 61, took over as Georgia Power's head six years ago. He rose to the job after a long career with its parent, Southern Co. He brought, in his own words at the time, "boring conservative management" and a focus on customer service to the job.
Both he and Tom Fanning, Southern's CEO-in-waiting, said Bowers brings a deep background to his new job.
"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 Fanning, who is Southern's president and will replace CEO David Ratcliffe in December.
Fanning also praised Garrett, whose tenure included years of growth and the sharp shrinking that came after the 2008 economic collapse.
"Mike led Georgia Power during periods of sustained growth and economic challenges," he said. "We are grateful for his service."
Georgia Power is the largest subsidiary of Southern Co., which is one of the nation's largest generators of electricity. Georgia Power serves 2.3 million customers in all but four of Georgia's 159 counties.
Southern is known for its seamless transitions at the top and the attention it lavishes on succession planning.
"They do a better job of building people than about any other company in their industry, " Jonathan Arnold, a utilities analyst at Deutsche Bank Securities, said last summer when the company announced Ratcliffe's retirement and other changes, including the one that positioned Bowers for Georgia Power's top job.
Bowers joined Southern Co. in 1979 at Gulf Power in Florida, and he 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. In 1998, he was named president and CEO of South Western Electricity, a former Southern Co. subsidiary in the United Kingdom, back when the company was aggressively expanding into other domestic and foreign markets.
He was president of the company's generation subsidiary for eight years and became its chief financial officer in 2008. He was named Georgia Power's chief operating officer earlier this year.
"What's great about Southern Company 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.
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