May 2015 – The review entitled Building Society Governance has been produced by Odgers Berndtson and highlights the continued lack of engagement with the majority of members and the lack of interest of directors in the subject.
The report notes that only 57 per cent of chief executives of 31 societies reported that they believed their members had a role in setting the strategic direction of their society. But this was up from only 16 per cent in 2010.
Our Comment – Perhaps the directors were more honest in 2010.