Nationwide Building Society

8 January 2026

Nationwide Building Society (Nationwide), Virgin Money UK PLC (Virgin Money) and Clydesdale Bank PLC (Clydesdale Bank) Chair Succession Announcement

Nationwide Building Society (the "Society") is pleased to announce that Mike Rogers will succeed Kevin Parry OBE as Chair of Nationwide, Virgin Money and Clydesdale Bank. Mike Rogers will join the Board as an Independent Non-Executive Director and Deputy Chair on 1 April 2026 and, following a handover period, will assume the role of Chair on 16 July 2026 subject to Mike's appointment being approved at Nationwide's Annual General Meeting ("AGM") on 15 July 2026.

Kevin Parry, who is currently Nationwide's longest serving director having joined the Board in 2016 and succeeding as Chairman in 2022, will step down from the Board at the close of business 15 July 2026 following the 2026 AGM.

Mike Rogers brings extensive experience in financial services and a strong track record in leadership. He is currently Chairman of Admiral Group PLC, Chair of Experian plc and previously served as the Chair of Aegon UK PLC. Mike was an Independent Non-Executive Director at NatWest Group plc, Chair of its Group Sustainable Banking Committee and member of its Group Performance and Remuneration Committee. He was previously a non-executive director of the Association of British Insurers.

Over a 30 year executive career in financial services, Mike Rogers has demonstrated expertise in UK Retail Banking, the Mutual Business Model, Risk and Governance and played key leadership roles including as CEO of LV= leading its transformation into a significant player in the general insurance and life and pensions markets. Mike previously spent 20 years with Barclays and held a number of senior roles including Managing Director of UK Retail Banking and Managing Director of Small Business Banking.

This breadth of experience, combined with his deep knowledge of financial services and commitment to customers, makes him well qualified to guide Nationwide's Board in the years ahead.

Tracey Graham, Senior Independent Director, who led the appointment process on behalf of the Nationwide Board, commented: "After a rigorous search process, the Board is delighted to appoint Mike Rogers as our next Chair. He stood out as an ideal candidate, with extensive industry experience and strong leadership credentials that align with Nationwide's mutual values. The Board is confident that Mike Rogers will provide the strategic guidance and stewardship needed to continue our success. On behalf of the Board I would also like to thank Kevin Parry for the enormous contribution he continues to make to the success of Nationwide. Kevin has been instrumental in transforming the strategic direction of the Society, delivering record member value, leading customer service, and in advancing the mutual sector. He is an excellent chairman, and we wish him well for when he retires from the Board in July."

Kevin Parry OBE, Chairman, said: I am very pleased with the Board's choice of Mike Rogers as my successor. He brings a wealth of experience and relevant perspective. I am confident that under his leadership, the Society will continue its high performance culture and deliver member benefits from our long standing strengths in mortgages, savings and current accounts but also in the more recent propositions of unsecured lending and business banking enabled by the acquisition of Virgin Money.  I look forward to working closely with him to ensure a smooth handover and to seeing Nationwide continue to thrive under his leadership."

Mike Rogers said: "I am honoured to be appointed as the Chair-elect of Nationwide Building Society. Nationwide has an important role as the UK's largest building society, and I have long admired its member-focused ethos. I look forward to working with my fellow Board members and the management team to build on Nationwide's strong performance, support its mutual values, and deliver long-term value to our customers, members and communities. It is a privilege to have the opportunity to help steer the Society into its next chapter."

Announcement authorised for release by Jason Wright, Group Society Secretary.

For further information, please contact:

About Nationwide

Nationwide is the world's largest building society, with over 16 million members. Following its acquisition of Virgin Money UK PLC, Nationwide is connected with one in three people in the UK and is the second largest provider of mortgages and retail deposits. It is also a major provider of current accounts, credit cards, personal loans and business banking. Customers can choose to manage their finances in a branch, via mobile app, the internet, telephone, and post. Nationwide has around 25,000 employees and its head office is in Swindon, UK.

As a financial services provider owned by its members, not shareholders, Nationwide's purpose is: Banking - but fairer, more rewarding, and for the good of society. For more information see  https://www.nationwide.co.uk/about-us/.