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 Board Diversity

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.

• Since January 2019, we have added seven new Directors to the Board.
• 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.
• Governance guidelines provide that Board should be diverse and confirm “Rooney Rule” commitment to actively seek out women and candidates of color to include in the pool from which board nominees are chosen.
• Board aims to strike a balance between the knowledge that comes from longer-term service on the Board and the new experience and ideas that can come from adding Directors to the Board.