Regions Bank 2015 Annual Report Download - page 18

At Regions, operating responsibly means compliance
with applicable laws and regulations – but also a
great deal more. It means conducting our business
in accordance with the highest ethical standards
as set forth in our Code of Business Conduct and
Ethics, adhering to our core values, prudently
managing risk, and fostering sound strategic
decision-making and accountability.
The Regions Board of Directors performs a key
function in guiding and overseeing the actions we
take to operate responsibly. Our Lead Independent
Director, Charles McCrary, plays an important role,
fulfilling a range of responsibilities. He also chairs
the Nominating and Corporate Governance (NCG)
Committee, charged with identifying and evaluating
individuals to be recommended for Board service.
As such, Mr. McCrary offers a valuable perspective
on the composition of the current Board.
“The Board is very talented and experienced and are
well-equipped to oversee a large financial institution
such as Regions. They represent a diverse set of
experience, expertise and attributes. For a board to
operate effectively it is critical that those opinions be
voiced, and even be challenged by one another. That
is done on a regular basis in our Board meetings, but
in a way that is very respectful and appropriate,”
said Mr. McCrary.
Operate Responsibly (continued)
Importantly, one of the Board’s main responsibilities
is to ensure that the Company has a sound strategic
plan. As such, in late 2015 the Board unanimously
approved the 2016-2018 strategic plan and believes
that it is a strong blueprint for building sustainable
shareholder value. This strategic plan is focused
on growing and diversifying revenue, practicing
disciplined expense management and effectively
deploying capital.
Creating shared value for all Regions stakeholders is
central to our approach to running the business, and
the Board is closely focused on this objective as well.
“The Board and Management are continually looking
An important Board responsibility is to exercise
oversight over senior management by setting
compensation and instituting a “pay-for-performance”
culture that fosters long-term value creation. According
to Mr. McCrary, who is the retired Chairman and CEO
of Alabama Power, “Our compensation objectives and
policies support our business goals and strategic plans,
including a commitment to a strong risk management
culture. The Board also acts as a challenge function
for senior management. It is our job to ask the tough
questions to make sure that a particular plan or
strategy is, in fact, the best course of action for Regions.”
for ways to enhance our already strong corporate
governance, especially when it comes to relationships
with our shareholders,” said Mr. McCrary.
Describing Board priorities for 2016, Mr. McCrary
indicates that one stands above all others. “The
priority this year and each and every year is how
to increase value for our shareholders. How do you
grow the business? That is the ‘what’, and there are
many ‘hows’ that are required to get you there. From
ensuring that our risk management practices are
sound, to strengthening our culture and associate
engagement, those are all essential, but they all flow
back to our foremost priority, which is to increase
shareholder value.”
Charles McCrary, Lead Independent Director, Regions Board of Directors
The Board and Management are continually looking for ways to enhance our
already strong corporate governance, especially when it comes to relationships
with our shareholders.”
“
Regions 2015 Annual Review18 Perspective Regions