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Co-op Group board member leaves after leaks investigation - source
April 29, 2014 / 10:11 PM / in 3 years

Co-op Group board member leaves after leaks investigation - source

LONDON, April 29 (Reuters) - Co-operative Group director Stuart Ramsay left the board of the supermarkets-to-funerals mutual on Tuesday after an internal investigation into a series of leaks, according to a person familiar with the matter.

The Co-op is fighting for its survival after posting the worst loss in its history earlier this month, and there has been bitter infighting among board members about its future strategy and proposals for reform.

Former Chief Executive Euan Sutherland, who was pushing for wide-reaching changes, resigned last month after his pay was leaked to a newspaper. He said the group, which has a complex board populated from regional co-operatives, was “ungovernable.”

Ramsay, a computer technician who has been involved with the Co-operative for 25 years, according to its website, was asked to step down immediately after an investigation into the dissemination of sensitive board material, the person familiar with the matter said.

An independent report into the near collapse of the mutual’s banking arm, the Kelly review, is expected to be published on Wednesday. (Reporting by Paul Sandle, editing by G Crosse)

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