June 2017 – The directors have introduced another anti-member resolution to change the rules to take further precautions against any member who seeks to stand for election to the board.
In addition to the infamous “Quick Vote” and the requirement for member nominated candidates to obtain the support of 250 members the directors of this so called mutual society have now changed the rules so that they can easily reject any member candidate just as they already reject any member resolution.
This is presumably a precautionary measure in reaction to the Government’s Green Paper on improving corporate governance standards including shareholder and employee representatives on company boardrooms and reining in corporate greed.
Owned by the directors, run by the directors for the benefit of the directors – “Your” Nationwide!