8-KLeadership Changes

SOUTHERN CO 8-K Report, Executive Changes (Oct 17, 2023)

Filed October 17, 2023For Securities:SOSOJESOJFSOJCSOJDSOMN

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.

Frequently Asked Questions

Shantella E. Cooper has been appointed as a new director to Southern Company's Board of Directors. She is the Chief Executive Officer of Journey Forward Strategies, LLC, and brings significant experience from her current and past board memberships, including with Southern Company's subsidiary, Georgia Power Company.

Ms. Cooper will participate in Southern Company's standard non-employee director compensation program, which includes both cash and equity components, as detailed in the company's April 14, 2023 Proxy Statement.

Yes, Ms. Cooper served on the board of directors of Georgia Power Company, a subsidiary of Southern Company, from 2017 until her election to the parent company's board on October 16, 2023.

Ms. Cooper's board committee assignments have not yet been determined. Southern Company will report these assignments via an amendment to this Current Report on Form 8-K when they become available.