Cardno joined the mutual in 1996 and has held several senior roles at the business including head of operations and most recently operations and sales director. She was appointed to the board of directors in 2015.
In her role, she managed operations strategy and performance which covered sales and marketing, underwriting and lending policy as well as the mutual’s IT function. She has also been spearheading the mutual’s digital development programme.
Piers Williamson, chairman of Newbury BS, said: “Phillippa is taking up the helm of a successful and strong building society, a testament to the outstanding contribution that the long-established executive team have made in the last decade or so.
“Phillippa has been very much at the core of the society’s development during this period, and I have no doubt she will take this to the next level as our new CEO. The growth of our membership, consistent delivery of an award-winning service and our financial strength are solid foundations from which the society will be able to meet the future needs of our members.”
Cardno said: “I’m both delighted and honoured to be asked to lead Newbury Building Society in the next phase of its growth and development. The society has a history stretching back 165 years and it is very much my aim to ensure the society continues to deliver savings and mortgage solutions for our members.
“I look forward to continuing to work closely with the board, society colleagues and members to achieve our strategic objectives and strengthen further our status as a mutual financial provider of choice.”
Gardner’s retirement was announced in February, and he had served as Newbury BS’ chief executive for 15 years and worked at the mutual for around 35 years in total.
He started as a manager of the Newbury branch and was then promoted to the executive team in 2001, and then chief executive in 2006.
During his time as chief executive, the mutual’s assets increased from £564m to £1.4bn and its reserves grew from £29m to £88m over the same period.