Nationwide customer vows to fight on after failed attempt to join board
Summary
A Nationwide customer, James Sherwin-Smith, tried to join the building society’s board but did not get enough votes. He received about 12.5% of votes, which was below the 50% needed. Sherwin-Smith plans to continue campaigning to change how Nationwide is run and stand for election again in 2027.Key Facts
- James Sherwin-Smith got 12.5% of the vote at Nationwide’s annual meeting.
- He needed at least 50% of the vote to join the board but failed.
- The board said he lacked the experience needed for the job.
- The board recommended members vote against him using a "quick vote" system.
- Sherwin-Smith plans to run again in 2027 and wants to encourage others to run too.
- He aims to change Nationwide’s rules, including ending the quick vote and allowing more member-nominated directors.
- Nationwide is a building society owned by its members but hasn’t had a member on the board since 2002.
- The AGM also included approval of a large pay increase for the chief executive to £4.7 million.
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