PPL Corporation adds former Southern Company CFO to its Board of Directors

Rhea-AI Summary

PPL Corporation (NYSE: PPL) has appointed Arthur P. Beattie, former CFO of Southern Company, to its board of directors, effective immediately. Beattie brings over 40 years of utility industry experience and will serve on the Audit Committee. His background includes financial planning, risk management, and mergers and acquisitions. PPL Board Chair William H. Spence emphasized that Beattie’s expertise would enhance the board’s capabilities for long-term growth and success. PPL serves over 10 million customers across the U.S. and U.K.

Positive

• Arthur P. Beattie brings extensive experience in the utility sector and financial management.
• His appointment is expected to strengthen the board's overall expertise and governance.
• PPL's commitment to exceptional customer service is reinforced with the addition of a seasoned executive.

Negative

• Potential continuity risks due to management changes.
• Experience gaps may arise from Beattie's transition into the new role.

ALLENTOWN, Pa., Oct. 1, 2020 /PRNewswire/ -- PPL Corporation (NYSE: PPL) announced today that Arthur P. Beattie, an executive with more than four decades of experience in the utility industry, will join the company's board of directors. 

Beattie, who retired in 2018 as Southern Company's executive vice president, chief financial officer and chief risk officer, will serve on PPL's Audit Committee. His appointment to the board is effective today.

"Art brings to the board a wealth of knowledge and experience in regulated utilities, financial planning and reporting, enterprise risk management, and mergers and acquisitions," said PPL Board Chair William H. Spence. "His skills and insight will complement well the strengths of our diverse and experienced board as we best position PPL for long-term growth and success."

Prior to his role as Southern Company's CFO and chief risk officer from 2010 to 2018, a role in which he was responsible for accounting, treasury, financial planning, tax, risk management and investor relations functions, Beattie served for five years as executive vice president and CFO of Alabama Power Company, a Southern subsidiary. Before that, he served nearly three decades in a variety of other leadership roles at Alabama Power.

Beattie holds a bachelor's degree in finance from the University of Tennessee and a master's degree in business administration from the University of Alabama at Birmingham. He has prior public company board experience as a director for Emageon, Inc., from 2004 to 2009. Beattie has also served as a board member for several charitable foundations and nonprofit organizations, including the Alabama School of Fine Arts Foundation, Greater Birmingham Salvation Army Advisory Board, Southern Company Foundation and Alabama Power Foundation.

Headquartered in Allentown, Pennsylvania, PPL Corporation (NYSE: PPL) is one of the largest companies in the U.S. utility sector. PPL's seven high-performing, award-winning utilities serve more than 10 million customers in the U.S. and U.K. With more than 12,000 employees, the company is dedicated to providing exceptional customer service and reliability and delivering superior value for shareowners. To learn more, visit www.pplweb.com.

Note to Editors: Visit our media website at www.pplnewsroom.com for additional news and background about PPL Corporation.

Contacts:	For news media: Ryan Hill, 610-774-4033
	For financial analysts: Andy Ludwig, 610-774-3389

 

View original content:http://www.prnewswire.com/news-releases/ppl-corporation-adds-former-southern-company-cfo-to-its-board-of-directors-301143814.html

SOURCE PPL Corporation

FAQ

What is the significance of Arthur P. Beattie's appointment to PPL's board?

Arthur P. Beattie's appointment enhances PPL's governance with his extensive expertise in the utility industry and financial management.

When did Arthur P. Beattie join PPL's board of directors?

Arthur P. Beattie joined PPL's board of directors on October 1, 2020.

What experience does Arthur P. Beattie have in the utility sector?

Beattie has over 40 years of experience, including roles as CFO and chief risk officer at Southern Company.

What position will Arthur P. Beattie hold on PPL's board?

He will serve on PPL's Audit Committee.

How will Beattie's expertise impact PPL Corporation's future?

His expertise is expected to complement the board's strengths and position PPL for long-term growth.