Nationwide Building Society AGM Results 2019

18 July 2019

The results of the voting at Nationwide Building Society's Annual General Meeting (AGM) held today, Thursday 18 July 2019, at Manchester Central Convention Complex, Manchester, M2 3GX are detailed below.

Ordinary resolutions:

1. To receive the Directors’ Report, the Annual Accounts, the Annual Business Statement and the Auditors’ Report for the financial year ended 4 April 2019

For: 559,950 (98.84%)
Against: 6,553 (1.16%)
Votes withheld*: 5,040

2. To approve the Directors' Remuneration Report for the financial year ended 4 April 2019

For: 511,752 (91.06%)
Against: 50,240 (8.94%)
Votes withheld*: 9,544

3. To appoint Ernst & Young LLP as Auditors until the end of the next AGM

For: 542,608 (96.55%)
Against: 19,367 (3.45%)
Votes withheld*: 9,577

Election or re-election of Directors

The results of the election or re-election of Directors of Nationwide Building Society are as follows:

Candidate Votes For Votes Against Votes Withheld
Albert Hitchcock 544,445 17,576 9,515
Rita Clifton 542,191 20,860 8,479
Mai Fyfield 542,060 20,605 8,866
Joe Garner 537,280 24,997 9,224
Kevin Parry 541,311 20,519 9,697
Lynne Peacock 544,448 18,983 8,086
Usha Prashar 539,234 22,977 9,298
Tony Prestedge 538,243 23,109 10,165
Mark Rennison 540,564 21,354 9,605
Chris Rhodes 538,276 22,961 10,294
David Roberts 542,377 20,014 9,123
Tim Tookey 540,060 21,027 10,446
Gunn Waersted 540,648 21,203 9,659

Accordingly, all of the Directors standing for election or re-election were elected and re-elected.

*A ‘Vote Withheld’ is not a vote in law and will not be and has not been counted in the calculation of the proportion of votes ‘For’ and ‘Against’ the resolutions or candidates in the election or re-election of Directors.

Welcoming members to this year’s AGM in Manchester, David Roberts, Nationwide's Chairman, said:

“As a member-owned Society, our AGM is an important annual event for us where our members have an equal vote on deciding how the Society is governed and led. We’re encouraged by members’ strong support for all the Resolutions recommended by the Board. Each resolution passed with over 90% of votes cast in favour.”

“The Society is thriving, and succeeding on many different measures. Our membership is at a record high, as was our gross mortgage lending last year, which is predominantly to homebuyers. Our service has been better than our peer group competitors for the last 7 years1. Last year members benefited from £705 million in member financial benefit, the extra value we can offer our members as a building society. We are also financially safe, secure and profitable, fulfilling our core responsibility of being a safe home for our members’ finances.”

“I would also like to take this opportunity to thank Mitchel Lenson on behalf of the Board for his valuable contribution over the last eight years, as he retires from the Board today.”

1 Source: © Ipsos MORI 2019, Financial Research Survey (FRS), lead held over seven-year period covering 12 months ending 31 March 2013 to 12 months ending 31 March 2019, c.60,000 adults surveyed per annum, proportion of extremely/very satisfied customers minus proportion of extremely/very/fairly dissatisfied customers summed across main current account, mortgage and savings. Peer group defined as providers with main current account market share >4% (Barclays, Halifax, HSBC, Lloyds Bank, NatWest, Santander and TSB). Prior to April 2017, peer group defined as providers with main current account market share >6% (Barclays, Halifax, HSBC, Lloyds Bank (Lloyds TSB prior to April 2015), 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.