Jimmy Etheredge
SOUTHERNAbout Jimmy Etheredge
James O. “Jimmy” Etheredge, 61, was elected an independent director of Southern Company effective April 1, 2025; he currently has no committee assignments and holds no other public company directorships . He is Managing Director of Corporate Solutions at Monarch Private Capital (since April 2025) and previously served as Chief Executive Officer – North America at Accenture (Sept 2019–Aug 2023) and special advisor to Accenture’s CEO and Board through July 2024, with career expertise spanning technology and innovation, accounting, cybersecurity, and customer experience in utilities .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Accenture plc | CEO – North America (largest market, ~80,000 team); Special Advisor to CEO & Board | CEO-NA: Sep 2019–Aug 2023; Special Advisor: until Jul 2024 | Led strategy across consulting, interactive, technology (including AI/cloud) and operations; executed growth agenda |
| Accenture plc | Senior Managing Director, U.S. Southeast (led business in 10 states) | 2016–Sep 2019 | Expanded innovation hub network; created innovation incubator at Georgia Tech |
| Accenture plc | Partner; Executive Partner | Partner 1997; Executive Partner 2011; joined Accenture 1985 | Advised utility clients globally with focus on customer service/care |
External Roles
| Organization | Role | Tenure/Status | Notes |
|---|---|---|---|
| Federal Reserve Bank of Atlanta | Deputy Chair; Audit & Risk Committee member | Current | Financial oversight and risk governance exposure |
| Encora Digital LLC (private) | Board member | Current | Private global digital engineering company board role |
| Grant Thornton Advisors (and affiliates) | Governance body participant (attendee of GP of parent) | Current | Governance involvement; attendee capacity |
| Georgia Tech Foundation; Woodruff Arts Center | Trustee | Current | Non-profit trusteeships |
| Atlanta Police Foundation; Techbridge; Atlanta Area Council of Scouting America | Board roles | Current | Civic/non-profit leadership |
Board Governance
- Independence and appointment: The Board affirmed Etheredge’s independence in its February 2025 review; he was elected as an independent director effective April 1, 2025 (identified by the CEO and non-management directors; recommended by the Nominating, Governance & Corporate Responsibility Committee) .
- Committees: None currently assigned .
- Other public boards: None .
- Attendance culture: In 2024, the Board met seven times; all directors attended at least 75% of applicable meetings and average attendance was 98% (board-wide metric; Etheredge joined in 2025) .
- Board structures and safeguards: Majority voting with resignation policy; overboarding limits (max four public company boards; audit committee limit of three; employed director limits) with all directors in compliance; all standing committee members are independent .
- Lead Independent Director: Anthony F. Earley, Jr. serves as Lead Independent Director .
Fixed Compensation (Non-Employee Directors Program)
| Component | Amount/Structure | Notes |
|---|---|---|
| Annual cash retainer | $120,000 | Paid in cash; directors may elect to defer |
| Lead Independent Director retainer | +$35,000 | Additional cash for LID responsibilities |
| Committee chair retainer (non-Audit) | +$20,000 | Additional cash for chair roles |
| Audit Committee chair retainer | +$25,000 | Additional cash for Audit chair |
| Meeting fees | None | No fees for Board/committee meetings |
| Annual equity grant | $170,000 in deferred common stock units | Required deferral until Board service ends; dividends reinvested |
| Director Deferred Compensation Plan | Optional deferral of up to 100% of remaining comp | Choice of common stock units (paid in stock or cash) or prime rate account; fully vested; distribution lump sum or up to 10 annual payments |
Director stock ownership guideline: At least 5x the annual cash retainer (i.e., 5 × $120,000) within five years of initial election; all non-employee directors meet or are expected to meet within the allowed timeframe .
Performance Compensation
| Element | Structure | Metrics/Notes |
|---|---|---|
| Annual equity for directors | Time-deferred common stock units | No performance metrics; defers until service ends; earns reinvested dividends |
| Options/PSUs for directors | Not applicable | Director pay is cash + time-deferred equity; meeting fees not paid |
- Enterprise governance policies relevant to pay alignment and risk:
- Prohibition on hedging and pledging of company stock for all directors and executive officers .
- Clawback/recoupment framework in place for incentive compensation (executive-focused; signals strong recourse culture) .
Other Directorships & Interlocks
| Company | Role | Committee Roles | Notes |
|---|---|---|---|
| None | — | — | “Other public company directorships: None” per Southern’s 2025 proxy |
Expertise & Qualifications
- CEO experience (Accenture North America), technology and innovation expertise, accounting and cybersecurity experience, and deep understanding of utility customer experience; regional market knowledge from leading the U.S. Southeast business and establishing an innovation incubator at Georgia Tech .
Equity Ownership
| Holder | Shares Owned Directly/Indirectly | Deferred Common Stock Units | RSUs (Rights to Acquire within 60 Days) | Total Beneficially Owned |
|---|---|---|---|---|
| James O. Etheredge | — | — | — | — |
Notes: Beneficial ownership as of Feb 14, 2025; “—” indicates no holdings reported in the proxy’s stock ownership table . Director equity grants are required to be deferred until board service ends, and directors must reach 5x retainer ownership within five years .
Governance Assessment
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Positives for investor confidence:
- Independence affirmed; no related-person transactions requiring consideration identified in the Board’s independence review; procurement and related-person policies followed; thresholds well under independence standards .
- Strong board-wide attendance and engagement culture (7 meetings; 98% average attendance in 2024) .
- Robust director pay structure (simple cash + time-deferred equity), mandatory equity deferral, and stringent ownership guideline (5x retainer) support alignment; hedging and pledging prohibited .
- Committee independence across all standing committees .
-
Watch items / potential red flags to monitor:
- Initial ownership: No beneficial ownership reported as of Feb 14, 2025; as a new director, he remains within the five-year window to meet ownership guidelines; monitor progress toward guideline .
- Committee engagement ramp: No committee assignments at appointment; track future committee placements (e.g., technology, security, customer) to leverage expertise and assess board effectiveness .
- External commitments: Multiple external roles (e.g., Federal Reserve Bank of Atlanta, private company board, governance body participation) require continued attention to overboarding/time commitment policies; current directors are in compliance with governance limits .
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Compensation climate context:
- 2024 Say-on-Pay support of 95% and ongoing stockholder engagement indicate constructive investor feedback on pay governance (executive program context) .