finance

Nationwide seeks new chief executive as Garner steps down



Nationwide Building Society has started the hunt for a successor to chief executive Joe Garner, as he looks to step down after more than five years at the helm.

The lender said the plan will “support an orderly transition to new leadership” in what will mark a clean sweep, at the top as chairman David Roberts also heads for the exit.

Nationwide announced that Royal London Mutual Insurance Society chairman Kevin Parry has been appointed deputy chairman and chairman elect, set to replace Roberts by March next year.

As chairman elect, he will lead the process to appoint a successor to Garner.

Roberts said: “Joe has made an outstanding contribution as leader of Nationwide.

“He has led the society through the challenges of Brexit and Covid, and we have emerged in robust financial health able to focus on supporting our members as the country rebuilds from the effects of the pandemic.

“By putting in place an orderly transition, we will ensure a smooth handover to new leadership and continuity in the running of the society.”

Garner said: “The foundations we’ve laid down in recent years will enable my successor to continue to grow the society and ensure we are ready to meet the future needs of our members.

“Until that point, I am absolutely focused on continuing to lead and deliver on our priorities.”

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