Southern Co. CEO announces retirement

<p>The chairman and chief executive officer of Southern Company said Monday he will retire next summer after 33 years with the Atlanta-based utility holding company.</p><p>Allen Franklin, 59, said following a company board meeting that he would step down in July 2004. The retirement, which has been discussed internally for a year, covers all of his positions at the company.</p><p>It was simply the right time for me and a good time for the company, Franklin said in a statement.</p><p>Succeeding Franklin will be David M. Ratcliffe, currently president and chief executive officer of Georgia Power, a Southern Company holding. Ratcliffe will continue to serve as CEO of Georgia Power until April 2004, when he will become president of Southern Company. He will become chairman and chief executive of Southern Company when Franklin leaves.</p><p>Mississippi Power CEO Mike Garrett will take over for Ratcliffe as head of Georgia Power. Anthony Topazi, executive vice president of Southern Companys generation and energy marketing group, will replace Garrett as head of Mississippi Power.</p><p>This is a wonderful company and were stronger than weve ever been _ both operationally and financially, Franklin said. Not only have we achieved all of our business goals, weve built an incredibly strong management team that will keep this company moving forward for many years to come.</p><p>Franklin said Ratcliffe, 55, who has been at Southern Company for 32 years, will serve the company well as its new chief executive. Ratcliffe has served as CEO of both Georgia Power and Mississippi Power and also as chief financial officer of Georgia Power.</p><p>Southern Company, with 4 million customers and nearly 39,000 megawatts of generating capacity, owns electric utilities in Georgia, Mississippi, Alabama and Florida.</p><p>___</p><p>On the Net:</p><p>HASH(0x2865664)</p>

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