ATLANTA, Feb. 27, 2014 /PRNewswire/ -- Fortune magazine has named Southern Company to its 2014 "World's Most Admired Companies" list, marking the fifth consecutive year the company has earned recognition among the publication's top three utilities worldwide.
Fortune recognized Southern Company as an industry leader for its quality of management, soundness of financial position, value as a long-term investment, quality of products/services offered and ability to attract, develop and retain talented employees. Other criteria included the company's innovation, wise use of corporate assets, effectiveness in conducting its business globally and responsibility to the community and/or the environment.
"The qualities that consistently earn Southern Company recognition among the world's top companies are central to our business," said Southern Company Chairman, President and CEO Thomas A. Fanning. "Our talented employees and effective management are delivering value as we develop the full energy portfolio for the benefit of our customers."
The Hay Group administered the Fortune survey, starting with about 1,400 companies: the Fortune 1,000 – the 1,000 largest U.S. companies ranked by revenue – and non-U.S. companies in Fortune's Global 500 database with revenue of $10 billion or more. Hay then selected the 15 largest for each international industry and the 10 largest for each U.S. industry, surveying a total of 692 companies from 30 countries. To create the 57 industry lists, Hay asked executives, directors and analysts to rate companies in their industry on the nine criteria, from investment value to social responsibility. A company's score must rank in the top half of its industry survey to be listed.
With 4.4 million customers and nearly 46,000 megawatts of generating capacity, Atlanta-based Southern Company (NYSE: SO) is the premier energy company serving the Southeast through its subsidiaries. A leading U.S. producer of clean, safe, reliable and affordable electricity, Southern Company owns electric utilities in four states and a growing competitive generation company, as well as fiber optics and wireless communications. Southern Company brands are known for energy innovation, excellent customer service, high reliability and retail electric prices that are below the national average. Southern Company and its subsidiaries are leading the nation's nuclear renaissance through the construction of the first new nuclear units to be built in a generation of Americans and are demonstrating their commitment to energy innovation through the development of a state-of-the-art coal gasification plant. Southern Company has been recognized by the U.S. Department of Defense and G.I. Jobs magazine as a top military employer and listed by DiversityInc as a top company for Blacks. The company received the 2012 Edison Award from the Edison Electric Institute for its leadership in new nuclear development, was named Electric Light & Power magazine's Utility of the Year for 2012 and is continually ranked among the top utilities in Fortune's annual World's Most Admired Electric and Gas Utility rankings. Visit our website at www.southerncompany.com.
SOURCE Southern Company