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Co-op boss quits after takeover

The Co-operative Group's long-standing chairman Len Wardle is standing down next year after it lost control of its banking arm to investors including US hedge funds.

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Co-op Bank's shortcomings 'a familiar story'

Chair of the Treasury Select Committee Andrew Tyrie says the Co-op Bank's shortcomings have become 'a familiar story' in the banking world.

Being owned by a mutual, the Co-op Bank differed from most of its competitors. But on today's evidence, its shortcomings did not. A lack of personal accountability at senior levels, ineffective corporate governance and insufficient experience and expertise among those taking the decisions; this has become a familiar story.

– Andrew Tyrie, Chair of the Treasury Select Committee

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