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Co-Op chief executive Euan Sutherland offers to resign-BBC
March 11, 2014 / 8:10 AM / 4 years ago

Co-Op chief executive Euan Sutherland offers to resign-BBC

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.

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