Summary
Southern Company (SO) announced a significant change to its Board of Directors with the immediate election of Ms. Shantella E. Cooper, effective October 16, 2023. Ms. Cooper brings extensive experience as the Chief Executive Officer of Journey Forward Strategies, LLC, and holds existing board positions with SouthState Corporation, Intercontinental Exchange, Inc., and Veritiv Corporation. Her prior experience includes serving on the board of Georgia Power Company, a subsidiary of Southern Company, from 2017 until her election to the parent company's board. This appointment is a notable event for investors as it indicates potential strategic insights and governance oversight from a new, experienced director. While her specific committee assignments are pending, Ms. Cooper's compensation will align with the company's standard non-employee director program, which includes both cash and equity components. The filing also details her prior compensation from Georgia Power, providing transparency on her past remuneration in connection with her service to the subsidiary.
Key Highlights
- 1Southern Company elected Ms. Shantella E. Cooper as a new director, effective October 16, 2023.
- 2Ms. Cooper is the CEO of Journey Forward Strategies, LLC, bringing executive leadership experience.
- 3She possesses prior board experience with Southern Company's subsidiary, Georgia Power Company, from 2017 to October 2023.
- 4Ms. Cooper also serves on the boards of SouthState Corporation, Intercontinental Exchange, Inc., and Veritiv Corporation, indicating broad corporate governance exposure.
- 5Her compensation will follow Southern Company's standard non-employee director program, comprising cash and equity.
- 6Specific board committee assignments for Ms. Cooper are yet to be determined and will be disclosed in an amendment.
- 7Details of Ms. Cooper's compensation from Georgia Power for 2022 ($158,000) and 2023 (approx. $125,370) were disclosed.