2022 Sustainability Summary - Flipbook - Page 8
Effective
Governance
and Policy
Engagement
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 sustainability topics.
Learn more
Board Oversight of Leadership Transition
In early 2023, Southern Company announced a CEO
succession plan that was the culmination of a robust
succession planning process led by the Board of
Directors. The Board selected Christopher C. Womack
to succeed Thomas A. Fanning as President and CEO,
and Mr. Fanning became Executive Chairman of the
Board following the Company’s May 24, 2023, Annual
Meeting. David J. Grain continues to serve as the Lead
Independent Director of Southern Company’s Board.
» Identified potential internal and external candidates
» Conducted extensive interviews with key
candidates
» Evaluated input from an external leadership
advisory consulting firm, including detailed
feedback and 360° assessments they had compiled
→ In addition to interviews with the Succession
Committee, key candidates met with all
independent members of the Board. The Board and
Succession Committee also continued to gain access
and exposure to the candidates through regular
Board and committee meetings.
As part of the succession planning process, the Succession
Committee also evaluated candidates for leadership
roles across the system. In January 2023, the Board
announced new leaders of several of our major subsidiaries
as part of the Company’s succession and management
transition plan.
→ Kimberly S. Greene was named Chairman of the
Board of Directors, CEO and President of Georgia
Power
→ J. Jeffrey Peoples was named Chairman of the
Board of Directors, CEO and President of Alabama
Power
→ James Y. Kerr II was named Chairman of the
Board of Directors, CEO and President of Southern
Company Gas
→ In 2021, the Board decided to augment its existing
succession planning process to facilitate the CEO
succession decision and help ensure a smooth
leadership transition.
→ The Board established an ad hoc committee, the
Succession Committee, comprised of independent
directors to lead the CEO succession process.
→ The Succession Committee considered several
factors as part of its robust evaluation process
» Identified key skills and expertise desired
in a CEO candidate
8
2022 Sustainability Summary
Christopher C. Womack
was named President
& CEO of Southern
Company in May 2023
