Marce

Marce Fuller, CEO of Atlanta-based Mirant Corp., is resigning from the bankrupt energy supplier in exchange for $3.4 million in severance pay plus a promised 2004 short-term incentive payment of $850,000, according to a regulatory filing with the Securities and Exchange Commission on Thursday. The agreement calls for Fuller to work as a consultant on Mirant’s bankruptcy case after she leaves.

Upbeat comments by Mirant Corp. CEO Marce Fuller failed to sway Wall Street last week after the company announced it is working to restructure more than $5 billion in debt — warning that there are substantial risks if it fails to successfully complete its negotiations.

Upbeat comments by Mirant Corp. CEO Marce Fuller failed to sway Wall Street Wednesday after the company announced it is working to restructure more than $5 billion in debt — warning that there are substantial risks if it fails to successfully complete its negotiations.

Mirant shares fell from the high $3.70s early last week to the mid $3.20s Friday after CEO Marce Fuller warned on Tuesday that the company was about 20 cents/share behind where it expected to be at this time in the year. Fuller expressed concerns about Mirant’s ability to meet its earnings forecast of $1.60/share for the year. The current average of Wall Street analysts’ estimates is $1.54 with a low of $1.45 and a high of $1.69, according to Thomson Financial.

Southern Energy Inc. (SEI), one of Southern Co.’s mainsubsidiaries, named S. Marce Fuller its new CEO last week. Underthe leadership of the former CEO, Tom Boren, SEI reported $69million in second-quarter 1999 earnings, compared with $25 millionfor the same period last year. Now it is up to Fuller to continuehis success.

Southern Energy Inc. (SEI), one of Southern Co.’s mainsubsidiaries, named S. Marce Fuller its new CEO Tuesday. Under theleadership of the former CEO, Tom Boren, SEI reported $69 millionin second-quarter 1999 earnings, compared with $25 million for thesame period last year. Now it is up to Fuller to continue hissuccess.