Britain's troubled Co-op proposes far-reaching reforms

LONDON Fri Aug 8, 2014 3:09am EDT

LONDON Aug 8 (Reuters) - The Co-op Group, Britain's largest mutual organisation, has put forward detailed proposals for far-reaching governance reforms that it has said are necessary to secure its future.

The supermarkets-to-funerals group agreed in principle to change the way it was managed in May after a series of near-catastrophic mistakes.

The proposed changes announced on Friday include creating a member-elected board of directors that it said would be individually and collectively be qualified to lead an organisation of the size and complexity of the mutual.

The group also said it would move towards a 'one member one vote' structure.

The reforms will be put to a vote at a special general meeting on August 30, it said. (Reporting by Paul Sandle. Editing by Jane Merriman)