Co-op Group CEO Euan Sutherland tenders his resignation-source
LONDON, March 11
LONDON, March 11 (Reuters) - Co-op Group's Chief Executive Euan Sutherland tendered his resignation on Monday morning, saying the member-owned group was "ungovernable" and in need of major reform, according to a source familiar with the matter.
The board of the group, which spans supermarkets to banks, held a emergency meeting on Monday evening to discuss Sutherland's move, the source said, during which they agreed to put forward reforms including the establishment of a new board led by an independent chairman.
- Dallas Ebola patient vomited outside apartment on way to hospital |
- Islamic State committing 'staggering' crimes in Iraq: U.N. report
- Hong Kong police warn protesters against occupying buildings |
- Israel's Netanyahu to Obama: Don't allow Iran deal that leaves it at nuclear threshold
- Islamic State presses assault on Syrian border town, Kurds warn Turkey |