Armada Hoffler Properties Announces Further Corporate Governance Enhancements
VIRGINIA BEACH, Va., Feb. 27, 2020 (GLOBE NEWSWIRE) -- Armada Hoffler Properties, Inc. (NYSE: AHH) today announced additional corporate governance changes adopted by its Board of Directors and management, as described below.
The Company established a Sustainability Committee, a new a cross-functional management committee formed to support the Company’s ongoing commitment to environmental, workplace health and safety, corporate social responsibility, corporate governance, and other sustainability matters. Members of the Sustainability Committee are appointed by the Company’s Chief Executive Officer and are required to report quarterly to the CEO and annually to the Nominating and Corporate Governance Committee of the Board of Directors.
The Sustainability Committee’s 2019 Report has been published and can be accessed through the Sustainability page of the Company’s website, ArmadaHoffler.com/Sustainability.
New Corporate Governance Policies
The Board adopted the following corporate governance policies:
Environmental Policy – emphasizes the Company’s commitment to incorporating leading environmental practices into its business strategy and operations and fostering
environmental awareness and responsibility among the Company’s employees, vendors, suppliers, and other interested parties. The Environmental Policy memorializes the Company’s commitment to
conserving natural resources, minimizing waste, recycling, and ensuring compliance with environmental laws and regulations.
Human Rights Policy – provides direction and guidance to the Company’s employees to ensure that all practices and processes support the fundamental principles of basic
human rights, and are developed and implemented in a manner that complies with the Company’s core values around human rights and respects the inherent value of each individual. Among other
things, the human rights policy:
- prohibits the use of forced or compulsory labor or child labor;
- expressly acknowledges the Company’s employees’ rights to lawfully associate or not to associate with groups of their choosing without fear of retaliation; and
- reinforces the Company’s commitment to maintaining a healthy and safe work environment that is free from violence, harassment, discrimination, and other unsafe or disruptive conditions.