Summary
Southern Company (SO) filed an 8-K on July 23, 2008, to report a change in its Board of Directors. Ms. Dorrit J. Bern, a non-management director, resigned from the Board of Directors, effective July 21, 2008. This resignation was in accordance with the Company's Corporate Governance Guidelines, which require a non-management director to tender their resignation when a change in their principal business association occurs. Ms. Bern recently resigned from her role as President and Chief Executive Officer of Charming Shoppes, Inc., triggering this board resignation. Investors are advised that this event represents a change in board composition and does not appear to be related to the company's operational or financial performance at this time.
Key Highlights
- 1Southern Company's Board of Directors has accepted the resignation of Director Dorrit J. Bern.
- 2Ms. Bern's resignation is effective July 21, 2008.
- 3The resignation is in compliance with Southern Company's Corporate Governance Guidelines.
- 4The guidelines mandate resignation of non-management directors upon a change in their principal business association.
- 5Ms. Bern's principal business association changed due to her resignation as President and CEO of Charming Shoppes, Inc.