Nationwide Building Society – Poor Corporate Governance

October 2017 – The report of the directors on corporate governance in the 2017 Annual Report of this building society states “Many companies with strong frameworks have failed as beyond the rules there are principles that matter deeply, such as transparency, trust, openness and balance.”

However a request for sight of their submission in response to the Government’s Green Paper on Corporate Governance was refused.  Instead they have offered an “overview” of their submission.

So the Nationwide Building Society is a prime example of the kind of organisation that the directors condemn.  Such blatant hypocrisy could only come from the Nationwide.

Organisations that do not make any claims about mutuality have published their submissions.  So why are the directors so scared to reveal their submission?  What are they ashamed of?  It should not be too difficult to guess.