Nationwide pressed to address ‘emerging governance issues’ as AGM looms

Labour MP writes to chair amid concerns building societies are overusing quick votes and failing to add members to boards

Nationwide is under pressure to address “emerging governance issues” across the building society sector, amid concerns bosses are bundling voting options and failing to allocate board seats for members.

The Stockport Labour MP Navendu Mishra has sent a formal letter to the chair of Nationwide, Kevin Parry, outlining growing unease over the way executives, including at Nationwide, have been engaging with members who ultimately own their building societies. A letter raising similar concerns was sent to the chancellor, Rachel Reeves, in recent weeks.