Announcement of CFO's Intention to Retire
Date Issued: 21 May 2019
NATIONWIDE ANNOUNCES CHIEF FINANCIAL OFFICER'S INTENTION TO RETIRE
Nationwide Building Society has today announced that its Chief Financial Officer, Mark Rennison, has discussed with the Board his intention to retire. Mark has agreed to stay in role until a successor has been appointed and he will continue to stand for re-election at the Society's AGM, to be held on 18 July 2019, so that, if re-elected, he may serve as a Director until he steps down. The announcement comes as Nationwide reports its 2018/19 full year results. The results show record lending, strong deposit growth and record membership with a capital position which remains well ahead of regulatory requirements. Full details are available on the Society's website.
Mark has spent 12 years as Chief Financial Officer and a member of the Board.
Nationwide's Chairman, David Roberts said: "The Board would like to thank Mark for his valuable contribution to the success of the Society for more than 12 years. He has balanced leading us through the most challenging external environment in memory whilst ensuring our finances are rigorously managed so that we can invest in the future and grow the business for our members. We are grateful that Mark will remain in role until a successor is appointed and we will be sorry to see him go."
Mark Rennison said: "It has been an honour to serve Nationwide for over a decade as Chief Financial Officer. The business is financially strong and growing. We are investing for the future as well as maintaining our strong capital position. There are exciting opportunities ahead as the Society builds from a position of underlying strength. I remain fully committed to the job until a successor is in place."
A process to appoint a successor will commence and a further announcement will be made in due course.
‐Ends‐
Media Information:
Sara Batchelor: 07785 344137, sara.batchelor@nationwide.co.uk
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