Each of the building society’s resolutions won about 95% or more of members’ votes
Nationwide’s planned £2.9bn takeover of Virgin Money has cleared a long-anticipated hurdle after the building society’s members showed overwhelming support for the board at its annual general meeting. More than 600,000 voters gave Nationwide’s board their backing at the AGM on Wednesday, with each resolution — including the board’s re-election and directors’ pay packages — receiving approvals of about 95 per cent or more.
7mn in compensation for a bonus she forfeited when she left rival lender TSB. Members also overwhelmingly approved a series of governance changes including giving Nationwide’s chair the ability to adjourn meetings, lifting an age limit of 70 for directors, and scrapping a rule to disqualify directors with mental illness.
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