January 2002 – The Nationwide is advertising for a non-executive director to replace a retiring director at the next AGM. The candidates will be selected and one will be appointed by the board in March but will not be nominated by members.
Our Comment – This open advertisement is seen as part of a PR exercise in the ongoing battle to stop member-nominated directors from being elected to the board whether they are pro-mutual or not. The directors have been criticised for the claim they made to the Parliamentary Treasury Committee that they welcome member-nominated directors when in fact they oppose them vigorously. Anyone in favour of genuine mutuality, accountability and elections that are not fiddled need not apply. Candidates must be good at rubberstamping and agreeing with everything the chairman says.