Governance Highlights &
Documents| Directors and Officers|
Committee Information |
Code of Conduct | Corporate
Governance Guidelines | Information
Statement | Bylaws
Washington Gas Light Company, a WGL Holdings, Inc. subsidiary, is a natural
gas utility that serves more than one million customers in metropolitan
Washington, DC, and the surrounding regions in Maryland and Virginia.
Good governance
is key to our objective of delivering natural gas safely, reliably and
cost-effectively. We are proud to note that many of the corporate governance
standards currently mandated by recent legislation and regulatory bodies
have been long-standing practices of our Board of Directors.
Listed below are
some of the more noteworthy aspects of our corporate governance practices:
- The Board has only one inside director. All of the other directors,
including all members of the Audit Committee, are independent.
- The entire Board of Directors is elected annually.
- Washington Gas does not make loans to officers and directors.
- The Board and its committees meet routinely in executive sessions
without management present so that the directors can discuss freely
important issues facing the company.
- The Board's Audit Committee has sole decision-making authority with
regard to the appointment, compensation, and oversight of the company's
independent auditor. In addition, the Internal Auditor reports functionally
to the Chair of the Audit Committee.
- The average number of options granted in each of the past three years
was less than 1% of the basic shares outstanding.
Concerns or complaints
regarding financial, accounting, auditing, and related matters can be
submitted confidentially and anonymously by telephone at (800) 249-5360.
This hotline also provides a method for communication with directors who
are not company employees.
The documents attached to this web page may be changed from time to time
by Washington Gas, and those changes may not be reflected on the attached
copies. These attached documents are not official copies of Company
records, and should not be relied upon as complete and accurate copies of
those documents. |
