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Tuesday, March 11, 2014

Co-op Ungovernable

Euan Sutherland tendered his resignation on Monday as CEO of the Co-operative Group.

Sutherland joined the Co-op last May, and details of his £3.66M compensation package were published in the media this weekend. Chairman Ursula Lidbetter has yet to publicly accept his resignation.

Sutherland is of the view (as stated in his resignation letter) that the Co-op is "ungovernable", and that the leak of his remuneration package details was the work of those who wished to stop him enacting reforms within the group.

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