Commitment to Sound Corporate Governance
Sound corporate governance is of utmost importance, and Southern Company’s Board of Directors sets high standards for employees, officers and directors.
It is the duty of the board to serve as a prudent fiduciary for stockholders and to oversee the management of our business strategies and related risks and opportunities, including Environmental, Social and Governance (ESG) topics.
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Risk Oversight Responsibilities
The board and its committees have both general and specific risk oversight responsibilities. The board is responsible for providing oversight of significant risks through engagement with management and delegation to committees. Any risk oversight that is not allocated to a committee remains with the board. At least once per year, the board reviews Southern Company’s risk profile to ensure oversight of each risk is designated to the appropriate committee or retained by the full board.
- Each committee continually oversees the risks designated to it, reports to the board on their related oversight activities and includes the board in risk review as needed.
- Committees have a designated member of Southern Company’s executive management as the primary responsible party for providing the information and updates on that committee’s risks. These responsible parties ensure all risks identified in our risk profile are regularly reviewed with the board and appropriate committee.
To review Committee charters in detail visit here.
Board Refreshment and Diverse Perspectives
Our commitment to diversity, equity and inclusion begins with the Board. Our Board believes a diverse variety of viewpoints contribute to a more effective decision-making process and helps drive long-term value.
The Nominating, Governance and Corporate Responsibility Committee establishes and regularly reviews with the Board the qualifications, attributes, skills and experience that it believes are desirable to be represented on the Board to help ensure they align with the Company’s long-term strategy. Over the last three years, the Board added five new Directors.
Southern Company's Board is committed to regular refreshment and believes a variety of perspectives facilitates effective decision-making, helps drive long-term value and encourages different views on risk, business strategy and innovation. While our Corporate Governance Guidelines do not prescribe diversity standards, the Guidelines provide that the Board as a whole should be diverse. The Guidelines also include language confirming the Board's commitment to actively seeking women and minority candidates to include the pool from which Board nominees are chosen.