Co-Op chief executive Euan Sutherland offers to resign-BBC
LONDON, March 11
LONDON, March 11 (Reuters) - Britain's Co-operative Group's chief executive Euan Sutherland has offered to resign in a letter in which he describes the member-owned group as "ungovernable", the BBC reported on Tuesday.
The BBC said Sutherland, who joined in May last year, had written a resignation letter and that the board was trying to persuade him to stay.
The Co-op, a well-known high street presence with banks, supermarkets and funeral homes, has been rocked in the past year by the discovery of a 1.5 billion pound ($2.5 billion) capital hole in its banking arm and a drugs scandal involving ex-chairman, Methodist minister Paul Flowers.
The Co-op was not immediately available to comment on the report.