Will a Nationwide customer’s boardroom challenge shake up UK corporate governance?

A decade after Theresa May spoke of radical reform, the mutual faces a bid that is testing the limits of democracy

In July 2016, in a canalside conference centre in central Birmingham, Theresa May took the stage for a speech that would formally launch her Tory leadership bid.

The home secretary of six years was seen as a safe pair of hands, including by the business community still reeling from the shock result of the Brexit referendum. What business had not banked on, though, was a social reform platform that would see May pledge to rein in corporate Britain and give workers and consumers seats on company boards.