Britannia members have again strongly endorsed the building society's mutual strategy by voting overwhelmingly in favour of pro-mutual candidates in the annual board elections. More than 284,000 members returned their voting forms – that's 23% of those eligible to vote – even though there were no contentious issues on the ballot paper and no challenge to the board's recommended candidates.
Around 95% of those voting supported each of the board's five recommended candidates – non-executive directors Francis Gugen, Chris Jones, Bridget Rosewell, Elizabeth Walmsley and myself.
Some 92% voted in favour of the remuneration report which explains how directors' pay is calculated. Because it is not a plc, Britannia does not have to ask members to vote on remuneration policy but it does so because it is committed to best practice in corporate governance.
The results were a ringing endorsement of Britannia's strategy to remain independent and mutually owned. Year in, year out our members demonstrate their belief that mutual ownership is right for Britannia and right for them. They recognise that at Britannia, membership means a great deal.