A victory for Nationwide’s board – but members still deserve stronger voting rights | Nils Pratley

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Guardian Business

A victory for Nationwide’s board – but members still deserve stronger voting rights | Nils Pratley

Building society rules need an overhaul if ballots on executive pay are non-binding and huge takeovers don’t require approval In the end, the rebellion at Nationwide, the country’s biggest building society, was modest. James Sherwin-Smith, who was trying to become the first member-nominated director in almost 25 years, secured only 12% of votes cast – enough to count as unusual but a long way short of causing embar…