Changes to The Co-operative Group Board

April 10, 2014

The Co-operative Group today confirms that Lord Myners will remain as a Director until the forthcoming AGM to be held on 17th May 2014 and will not seek election for his position as Senior Independent Non-Executive Director at that meeting.
 
The Governance Review being undertaken by Lord Myners is scheduled to be delivered following publication of Sir Christopher Kelly’s report into the circumstances that led to the crisis at The Co-operative Bank.
 
The Co-operative Group Board has committed to leading the governance reform process of the Society and has approved that a resolution will be put to members at a General Meeting on 17th May. This resolution will ensure that the recommendations of the Governance Review led by Lord Myners will be voted on by The Co-operative Group membership.
 
Ursula Lidbetter, Chair of The Co-operative Group, said "We are committed to reforming our governance and know that Lord Myners’ report will provide invaluable stimulus for the changes we need to make. I would like to thank Lord Myners for the work he is doing to ensure The Co-operative Group is best placed to reform and, in due course, thrive”.

The Group has also announced the following changes to The Co-operative Group Board following the Annual Board Electoral Process:

  • Steven Bayes (Deputy Chair), Patrick Grange and Liz Moyle, have not been re-elected
  • Stuart Ramsay did not stand for re-election
  • Ursula Lidbetter (Group Chair) and Mark Smith have been re-elected to the Board
  • Andrew Donkin, Bob Harber, David Morrow, Frank Nelson and David Smith have been elected as new Directors

All changes to The Co-operative Group Board take effect after the AGM.