Avangrid, Inc. (NYSE:AGR) Files An 8-K Amendment to Registrant’s Code of Ethics, or Waiver of a Provision of the Code of EthicsItem 5.05
In connection with its regular review of the Avangrid, Inc. corporate governance system, the board of directors of Avangrid, Inc. (“Avangrid”), upon the recommendation of its compensation, nominating and corporate governance committee, approved an amended and restated Code of Business Conduct and Ethics as part of a larger refreshment of Avangrid’s corporate governance system, effective October19, 2017. Avangrid’s corporate governance system, which consists of Avangrid’s certificate of incorporation and by-laws, governance rules, corporate policies, compliance rules, and internal rules and procedures, forms the framework of Avangrid’s governance and is inspired by and based on a commitment to ethical principles, transparency, and leadership in the application of best practices in good governance.
The amended and restated Code of Business Conduct and Ethics maintains the essential principles and standards contained in the prior code but has been reformatted to enhance its readability and ease of use. The revisions do not result in any waiver to any officer, director or employee of Avangrid, explicit or implicit, from any provision of the Code of Business Conduct and Ethics as in effect prior to the board of director’s action to amend and restate the Code of Business Conduct and Ethics. The amended and restated Code of Business Conduct and Ethics is applicable to all officers, directors and employees of Avangrid and its subsidiaries and affiliates, including but not limited to Avangrid’s principal executive officer, principal financial officer, principal accounting officer and controller.
The refreshed Avangrid corporate governance system, including the amended and restated Code of Business Conduct and Ethics, is available in the Corporate Governance section of Avangrid’s website at www.avangrid.com. The foregoing summary of the amended and restated Code of Business Conduct and Ethics is subject to and qualified in its entirety by reference to the full text of the amended and restated Code of Business Conduct and Ethics.
Avangrid was recognized for the second consecutive year as the North American utility with the best corporate governance practices, according the prestigious Ethical Boardroom publication, which recently announced its Corporate Governance Awards 2017 for The Americas. The awards recognize companies with outstanding corporate governance practices that play an essential role in protecting and enhancing long-term value for all stakeholders.
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About Avangrid, Inc. (NYSE:AGR)
Avangrid, Inc. is a diversified energy and utility company with more than $30 billion in assets and operations in 25 states. The company operates regulated utilities and electricity generation through two primary lines of business. Avangrid Networks includes eight electric and natural gas utilities, serving approximately 3.1 million customers in New York and New England. Avangrid Renewables operates 6.3 gigawatts of electricity capacity, primarily through wind power, in states across the United States. Iberdrola S.A. (Madrid: IBE), a worldwide leader in the energy industry, owns 81.5% of AVANGRID.