Webster’s Governance and ESG Oversight: Ensuring Ethical Business Conduct and Corporate Sustainability
Our commitment begins with all-encompassing governance structures, policies, management committees, and practices that are designed to ensure transparency in reporting and accountability for our Board of Directors and senior management. We have governance policies and procedures in place that help us maintain the highest levels of ethics and integrity, as well as data security and client privacy safeguards. We also have strong programs to manage operational risks and ensure compliance with all applicable laws, regulations, and rules governing ethical business conduct.
Webster believes that its Board should consist of directors with diverse business experience and expertise in areas relevant to the company. Our Board of Directors is made up of a majority of independent directors as defined by the NYSE listing standards and the Board’s Corporate Governance Guidelines. Except for the Executive Committee, our Board committees are composed entirely of independent directors. Our directors bring valuable expertise and insight to help Webster achieve its corporate goals.
As directors retire, our comprehensive succession program identifies new Board members who can bring additional qualities and experience to help us continue to innovate and succeed. Each year, the Board undergoes a self-assessment process to evaluate the performance of the Board and Committees.
As part of the self-assessment process, the Board considers which attributes and skill sets are important to ensure optimal performance of the Board. The information learned through this process is utilized when considering outside director candidates. The Board is committed to sustaining a board that achieves balance between depth of experience in the oversight of Webster and fresh approaches to oversight and strategic deliberations, particularly as Webster’s business and best practices of corporate governance, as well as corporate sustainability, evolve.
ESG Oversight Our Board of Directors continues to oversee Webster’s ESG efforts, led by the Nominating and Corporate Governance Committee. Our Corporate Responsibility Committee is comprised of senior executive leadership, overseeing the ESG Council activities and reporting on ESG efforts to the Nominating and Corporate Governance Committee. Our management-level ESG Council includes a cross-functional team with representatives from lines of business, Audit, Compliance, Corporate Responsibility, Investor Relations, Legal, Operations and Risk. The Council meets on a quarterly basis.
To know more about Webster Bank’s commitment to corporate responsibility, click here.
Webster believes that its Board should consist of directors with diverse business experience and expertise in areas relevant to the company. Our Board of Directors is made up of a majority of independent directors as defined by the NYSE listing standards and the Board’s Corporate Governance Guidelines. Except for the Executive Committee, our Board committees are composed entirely of independent directors. Our directors bring valuable expertise and insight to help Webster achieve its corporate goals.
As directors retire, our comprehensive succession program identifies new Board members who can bring additional qualities and experience to help us continue to innovate and succeed. Each year, the Board undergoes a self-assessment process to evaluate the performance of the Board and Committees.
As part of the self-assessment process, the Board considers which attributes and skill sets are important to ensure optimal performance of the Board. The information learned through this process is utilized when considering outside director candidates. The Board is committed to sustaining a board that achieves balance between depth of experience in the oversight of Webster and fresh approaches to oversight and strategic deliberations, particularly as Webster’s business and best practices of corporate governance, as well as corporate sustainability, evolve.
ESG Oversight Our Board of Directors continues to oversee Webster’s ESG efforts, led by the Nominating and Corporate Governance Committee. Our Corporate Responsibility Committee is comprised of senior executive leadership, overseeing the ESG Council activities and reporting on ESG efforts to the Nominating and Corporate Governance Committee. Our management-level ESG Council includes a cross-functional team with representatives from lines of business, Audit, Compliance, Corporate Responsibility, Investor Relations, Legal, Operations and Risk. The Council meets on a quarterly basis.
To know more about Webster Bank’s commitment to corporate responsibility, click here.
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