May 2015 – “Your” Nationwide Building Society has announced the retirement of Graham Beale the chief executive. This will take place after the AGM in July.
Mr Beale is expected to relieve this society of a substantial portion of members’ funds on departure and for his pension pot but hopefully will leave sufficient in the trough for the other directors and hopefully there will be some left over for members.
With the help of a few thousand employees, Mr Beale has built up a considerable increase in profits for this society thus ensuring a hefty bonus for himself. Unfortunately benefits for members do not have any effect on his bonus package and so, in this respect, this building society continues to remain just an also-ran compared with some other building societies and banks.
“Your” Nationwide Building Society will have a brand new chairman after the AGM and a brand new chief executive next year.