CAYCE, S.C. (AP) -- Scana Corp. chairman Bill Timmerman says he will retire this year and hand the reins of South Carolina's only Fortune 500 company over to Kevin Marsh, president of the company's utility.
The State of Columbia reported that Scana's board of directors voted Friday to name the 54-year-old Marsh chief executive and chairman when Timmerman retires Nov. 30.
The company's subsidiary South Carolina Electric & Gas is in the midst of a building two new nuclear reactors in partnership with state-owned utility Santee Cooper near Jenkinsville where the two already operate one reactor.
Timmerman says he will remain as a consultant to the company but wanted to retire before the major construction work began on the reactors.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
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