Statement from James Sherwin-Smith ahead of Nationwide AGM 2026

Today marks the conclusion of this year’s Nationwide Board Election.

Over the past two years, this campaign has become about something much bigger than one Board seat. Together, we’ve brought Member democracy, governance and accountability at Britain’s largest building society into the national conversation.

I’m grateful to the thousands of Members who have engaged with the campaign, the journalists who have reported on it, and the parliamentarians from across both Houses and party lines who have recognised that the governance of Member-owned organisations deserves greater attention.

Standing as the first Member Nominated Candidate at Nationwide Building Society for more than twenty years has been both a privilege and a revealing experience.

I had hoped this Election would provide a fair and impartial test of whether Members wished to elect an independent voice to the Board.

Instead, it has exposed a number of important questions about how contested Elections are conducted, how Members are encouraged to vote, and whether current governance arrangements remain fit for purpose in a modern mutual.

Whatever happens when the votes are announced later today, those questions will remain.

The late Congresswoman Shirley Chisholm (1924-2005) once observed:

“I realize that this is a rough road, but a catalyst for change in a society is usually persona non grata with those who have been the beneficiaries of the system. A catalyst for change has to be able to withstand the insults, the humiliations, the abuses, and the slurs.”

That quotation has resonated with me throughout this campaign. Today closes one chapter.

This afternoon, The Next Episode begins.