Nationwide Building Society AGM Results 2017

The results of Nationwide Building Society's Annual General Meeting (AGM) held today at the International Convention Centre (ICC) in Birmingham are detailed below.

Ordinary resolutions:
 
1. To receive the Directors’ Report, the Annual Accounts, the Annual Business Statement and the Auditors’ Report
For:  597,977 (99.08%)        Against:  5,548 (0.92%)       Votes withheld:  4,391 

2. To approve the Directors' Remuneration Report 
For:  558,021 (93.24%)         Against:  40,434 (6.76%)      Votes withheld: 9,469 
 
3. To approve the Directors’ Remuneration Policy
For:  550,109 (92.04%)        Against:  47,552 (7.96%)       Votes withheld:  10,261

4. To approve the re-appointment of PricewaterhouseCoopers LLP as Auditors until the end of the next AGM
For:  579,978 (96.62%)         Against:  20,259 (3.38%)      Votes withheld:  7,681

5. To pass a Special Resolution to amend the Rules of the Society
For:  584,322 (97.97%)         Against:  12,100 (2.03%)        Votes withheld:  11,513

Election and Re-election of Directors
The results of the election/re-election of Directors for Nationwide are as follows:

 Candidate Votes For  Votes Against Votes Witheld
Joe Garner   576,995  22,255  8,665
 Kevin Parry  579,594  18,995  9,342
 Usha Prashar  576,076  23,098  8,738
 Rita Clifton  582,736  17,160  8,024
 Mai Fyfield  579,138  20,298  8,474
 Mitchel Lenson  581,571  17,496  8,849
 Lynne Peacock  579,160  20,807  7,946
 Tony Prestedge  580,977  18,126  8,823
 Mark Rennison  579,944  19,388  8,579
 Chris Rhodes  580,987  18,098  8,826
 David Roberts  578,211  20,795  8,913
 Tim Tookey  580,878  17,909  9,135

Accordingly, all of the Directors standing for election/re-election were elected and re-elected.
 
David Roberts, Nationwide's Chairman, said: 

“Nationwide’s AGM is an opportunity for members to engage with the Board and management. One we very much welcome, which is why we take the meeting to different parts of the UK to help member access and representation. 

“In Birmingham today, we were able to report on another very strong trading year for Nationwide, taking our membership to an all-time high. This followed record gross mortgage lending and record current account openings, and Nationwide has become the UK's top choice for current accounts.

“The strength of our trading performance meant that earlier this year we reported profits of over £1 billion for the third year running, and were able to give an additional £505 million to members in the form of better rates, fees and incentives. We also continue to invest in service, branches and digital services, maintaining our customer satisfaction lead over all our high street peer group 1.

“What makes Nationwide different is that it is owned by its members and, with a one-member one-vote policy, members can genuinely influence the direction of the Society. 

“We are therefore encouraged by members’ wholehearted support for the Resolutions recommended by the Board at today’s AGM.  Each Resolution passed with at least 92% of votes cast in favour.

“We are seeking ways to engage our members more fully in Nationwide. This includes giving our members a say over what projects are supported by our new housing-focused social investment strategy. In the coming months, we will also be extending our digital feedback channel, Member Connect, to more members than ever before.

“I’d like to thank our members for their continued support for the Society.”

1 © GfK 2017, Financial Research Survey (FRS), 3 months ending 31 March 2017 vs. 3 months ending 31 March 2016, proportion of extremely/very satisfied customers minus proportion of extremely/very/fairly dissatisfied customers summed across current account, mortgage and savings, high street peer group defined as providers with main current account market share >6% (Barclays, Halifax, HSBC, Lloyds Bank (inc C&G), NatWest and Santander).


About Nationwide

Nationwide is the world's largest building society as well as one of the largest savings providers and a top-three provider of mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million customers.

Customers can manage their finances in a branch, via the mobile app, on the telephone, internet and post. The Society has around 18,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.

Please note: If you are a customer looking for information on our products and services, please visit the main website.