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The newest member of elite Black executives leading America’s biggest companies, Christopher Womack, the president and CEO of Southern Company, received a total compensation of $5.7 million for the year 2022. While the figure is substantial, it represents a 7.83-percent decrease from his previous year’s earnings, which stood at $6.18 million.
Womack’s 2022 compensation package includes a base salary of $0.89 million, further boosted by a performance-based short-term incentive of $1.29 million, attributed to his exemplary leadership within the company. He also received a long-term incentive award amounting to $2.68 million from the prominent utility provider.
Southern Company, the second-largest utility company in the United States by market value, currently serves 9 million gas and electric utility customers across six states. Under Womack‘s guidance, the company has solidified its position as one of the largest energy providers in the nation, ranking 126th on the Fortune 500 list of the largest U.S. corporations.
From legislative aide to CEO: Christopher Womack’s remarkable career journey
Womack’s journey to leading one of America’s biggest companies began in the 1980s when he served as a legislative aide for Leon Panetta, who would later become the U.S. secretary of defense. In 1988, he joined Southern Company and steadily climbed the corporate ladder through various senior roles across multiple departments.
A pivotal moment in his career occurred in 2010 when he found himself working in close proximity to then-CEO Thomas Fanning. This paved the way for his tenure as chairman, president, and CEO of Georgia Power Company, a subsidiary of Southern Company, from 2021 to 2023. His leadership was marked by significant achievements that positioned Georgia Power Company as an industry leader, solidifying his reputation as an astute and visionary executive.
Assuming the role of president and CEO of Southern Company in May 2023, Womack has joined the exclusive ranks of elite Black executives leading some of America’s largest corporations. In this role, he will continue to lead the Georgia-based electric utility company in delivering clean, safe, reliable, and affordable energy to nearly 3 million customers.
In 2022, Southern Company achieved remarkable financial success, with a reported revenue of $29.28 billion, signifying a substantial 26.68 percent increase from the previous year’s revenue of $23.11 billion. The company’s assets also witnessed steady growth, increasing by 5.78 percent from $127.53 billion in 2021 to $134.89 billion by the end of its fiscal year.
