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Regions Wins Top Honors at Corporate Governance Awards

RF | 8 days ago

NORTHAMPTON, MA / ACCESSWIRE / November 18, 2024 / Regions Bank

By Candace Higginbotham | November 18, 2024

Awards season has officially kicked off and red carpets are being rolled out. And not just for the made-for-TV ceremonies you may be familiar with. Last week, more than 400 governance, risk and compliance (GRC) professionals from all industries gathered for the 2024 Corporate Governance Awards.

The awards are hosted each year by Governance Intelligence, a digital content company that provides a forum where governance experts and service providers can share their experience, insights and best practice recommendations on a wide range of critical issues. According to the group, the awards "celebrate the brightest minds and most pioneering organizations in GRC, recognizing those who set new standards of excellence, integrity, and innovation."

Regions came home with two prestigious awards from the ceremony held in New York, Governance Team of the Year (small- to mid-cap) and Best Shareholder Engagement (small- to mid-cap).

"The team told a compelling story around advancing Regions' shared value mission through transparency, accountability and continuous improvement," said Tara Plimpton, Chief Legal Officer and Corporate Secretary.

"Big congratulations to Andrew Nix, Elizabeth Townsend, Mary Wheeler, Susan Anderson, Jessica Everest, Katie Loggins, Sharon Kachelhofer, and the extended Governance team, as well as Chris Lollar from SEC Reporting, Megan List from Total Rewards and their extended teams. And thanks to all the other Regions associates and partners involved in the effort, as it really does take a team."

Corporate governance is the system of rules, practices, and processes by which a company is directed and controlled. Profitability is important, but truly successful companies must demonstrate good corporate citizenship through sound governance.

The Governance Team of the Year award recognizes the best overall governance team in the country and its notable achievements over the past 12 months. The Regions team was honored for specific accomplishments, including a fully redesigned Proxy Statement, a rebranded and in-house generated Shared Value Report, a robust and intentional shareholder engagement program, effective structure around compliance readiness and significant contributions to Board governance initiatives.

"I'm so proud of our team and this recognition of their hard work," said Chief Governance Officer Andrew Nix. "We take great pride in prioritizing strong governance processes at Regions. And our success can be attributed to several factors - the knowledge, skill and talent of team members; their eagerness to continuously improve and be nimble in a rapidly evolving space; and most importantly, a really strong team culture."

Nix also praised the team's award for Best Shareholder Engagement. This category focuses on ways that companies reach out to proxy decision-makers.

"We are committed to constructive and meaningful conversations with our shareholders, which we use to build ongoing relationships over time," Nix said. "Engaging with our shareholders and soliciting their points of view is critical to providing long-term value to all Regions stakeholders."

Regions was a standout in this category because of the team's proactive, intentional outreach throughout the year resulting in ongoing, meaningful dialogue. Balancing the interests of various stakeholder groups and the different viewpoints within those groups can be challenging, but Nix emphasized the value of understanding shareholders' perspectives, and how engagement is critically important to ensuring that the bank remains aligned with shareholder interests.

"Our company's mission is to make life better for our customers, associates, communities and shareholders, and the entire Regions organization works toward that goal every day," Nix said. "I'm pleased that our team is doing our part by ensuring that Regions' governance practices are responsible, fair and transparent."