Nationwide picks “unfair fight” with Member board candidate (Press Release)

FOR IMMEDIATE RELEASE

Nationwide picks “unfair fight” with Member board candidate

• Nationwide Building Society has today confirmed it will not be recommending James Sherwin-Smith as a candidate for the board to its Members
• The Society’s “Quick vote” mechanism will be actively deployed against James, creating “structural disadvantage” against not recommended Directors
• 9.1 million Nationwide Members urged to “NOT USE QUICK VOTE” ahead of receiving ballot papers from the 8th June and when voting closes at the Nationwide AGM on 15th July. 

LONDON, May 28th, 2026 — James Sherwin-Smith, the only Member Nominated Candidate for the Nationwide Board, is urging Nationwide to rethink its decision on Board recommendations. It comes as the building society today confirmed the Member Nominated Candidate will not be recommended for election to the Board at the upcoming election starting from 8th June, culminating with the AGM on 15th July 2026.

Nationwide today confirmed via email to the Candidate that the Board agreed “unanimously” that Sherwin-Smith should not be recommended, based on a range of generic and incorrect opinions. Further, it is taking the unprecedented step of recommending Members vote against James. 

The decision by Nationwide means Members will have to actively vote for their first Member representative in the building society’s history and not use the “Quick Vote” option.

James now faces a major fight to secure the necessary votes for a majority outcome by 15th July. Last year 670,000 members voted and 87% used the Quick Vote. This year 9.1 million are eligible to vote. Turnout in prior elections has been steady at circa 4% of the total 16.4 million members (pre the legal transfer of Virgin Money on 2nd April this year).  Virgin Money customers who have only recently become Members will not be eligible to vote at this year’s AGM.

The latest decision in this process by Nationwide’s board will not be publicly announced and will instead be disseminated to all 9.1 million eligible members in the coming weeks alongside the Notice of AGM and ballot guidance.

Commenting on the decision today, James Sherwin-Smith said:

“I am hugely disappointed Nationwide has missed the chance to run a fair and proper election, by choosing not to suspend the Quick Vote, and to not recommend my candidacy to Members.

“This decision only reinforces the importance of having genuinely independent voices who can advocate for all Members of the Society, that following the legal transfer of Virgin Money, is estimated to now be approaching 20 million in total across the UK. 

“The use of the Quick Vote mechanism is particularly concerning – setting this election up as an unfair fight – and creates a dangerous precedent for future elections at Nationwide and in other similarly governed organisations.

“As a result, I urge all members who support greater independence, scrutiny and accountability to avoid the Quick Vote option presented at the top of the voting form, and deliberately choose a fellow Member from the 8th June.

“Whatever the outcome, this is not about one candidate. It is about whether Nationwide Members retain meaningful democratic choice in the governance of their Society.”

In practice, the Quick Vote heavily advantages Board-backed candidates because Members are encouraged to support the Board’s preferred slate with a single click, rather than assessing candidates individually on their merits. In the case of the digital voting form on a mobile phone, checking the Quick Vote box last year meant the rest of Nationwide’s 2025 voting form options were hidden from view.

Nationwide’s decision to extend the Quick Vote mechanism to also cast votes against a Member Nominated Candidate should give Members of any similarly governed organisation considerable cause for alarm.

The Member Nominated Candidate therefore today encouraging Members to:

• DO NOT use the Quick Vote;
• Vote FOR Sherwin-Smith individually;
• Carefully consider whether to vote tactically AGAINST any Board-backed candidates; and
• Recognise that in an election, each vote FOR and AGAINST candidates can materially affect the final result. 

Under Nationwide’s voting system, independent candidates will face a significant structural disadvantage where Members simply endorse the Board’s recommendations wholesale through the Quick Vote.

Notes to editors

• James is available for comment or interviews, for more information please contact: 07816318310
• Full details on the rationale for James’ rejection by Nationwide can be provided if required.
• The Board of Nationwide Building Society does not contain a single Director nominated and elected by the Members, and hasn’t since 2002. Other large member-owned organisations have Member Nominated Directors or Trustees on their Boards.
• For more information on James’ campaign visit: https://james4nationwide.co.uk/