Nationwide customer seeking election to board hits out at lender for ‘unfair’ treatment
Summary
A Nationwide customer, James Sherwin-Smith, wants to be elected to the building society’s board but says the lender is treating him unfairly by encouraging members to vote against him. Nationwide says Sherwin-Smith does not have the experience needed to be on the board and has set up an easy voting option that defaults to opposing his election.Key Facts
- James Sherwin-Smith is a Nationwide customer seeking election to the building society’s board.
- Nationwide plans to tell members to vote against Sherwin-Smith and set a default quick vote option opposing him.
- Nationwide is the UK’s largest building society with 17 million members and £377 billion in assets.
- Sherwin-Smith argues that members currently lack enough say and wants better democratic governance.
- Nationwide’s chair, Kevin Parry, said Sherwin-Smith lacks the skills and experience needed for the board.
- Sherwin-Smith has worked in management consulting and payments but Nationwide blocked him from changing election materials.
- Last year, 87% of votes used the quick vote system, making it harder for Sherwin-Smith to get support.
- Sherwin-Smith believes diverse board members improve governance and wants members to elect representatives directly.
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