The Southern Company (NYSE:SO) has tapped a new member to its Board of Directors. The energy company said Larry D. Thompson will join its Board from December 1 from PepsiCo, Inc. (NYSE:PEP). Thompson is currently the EVP of Government Affairs at PepsiCo. He will retire from that position at the end of this year.
Thompson is not new at Southern Company (NYSE:SO). He previously served on the Board of the company between 2010 and 2012. The management of Southern Company is excited to have him back on the Board. Commenting on the development, CEO, Thomas A Fanning, stated that they hope to benefit from the leadership experience that Thompson has gathered through his many years in the public and private sectors.
Meanwhile, Southern Company declared a quarterly dividend of $0.525 per share that will be paid to shareholders on December 6. The company has paid a quarterly dividend 268 times without interruption.
CVS Health Corp (NYSE:CVS) said it would implement a surcharge plan at the request of some of its customers that it didnâ€™t identify. The surcharge will impact prescriptions filled by pharmacies that offer tobacco. Some analysts have already weighed in on the matter, and they think it would be a great opportunity for CVS Health Corp (NYSE:CVS) to taps significant amount of revenue.
At Morgan Stanley (NYSE:MS), for example, the analysts there believe that CVS Health Corp (NYSE:CVS) could tap up to $3.6 billion in revenue from the surcharge plan. That would be enough to plug the revenue hole created following the end of tobacco offering by the pharmacy operator.
CVS Health Corp (NYSE:CVS) has adopted a pro-health business focus such that it this year announced the end of tobacco sale in its stores.
The Home Depot, Inc. (NYSE:HD) will have a new leader for its U.S. operations starting next month. The company appointed insider, Marc Powers, to oversee the U.S. stores. That development follows the planned move of the current U.S. operations leader Marvin Ellison, to J C Penney Company Inc (NYSE:JCP).
The exit of Ellison from The Home Depot, Inc. (NYSE:HD) comes after he was passed over during the selection of the retailerâ€™s new CEO earlier this year. Craig Menear got the CEO job.