Lord Myners: The Co-Op still has a future

Lord Myners has said he was confident that The Co-Operative Group has a "good future" despite confirming he is standing down from its board of directors.

View all 5 updates ›
  1. Richard Edgar

'Enormous hostility' aimed at peer over Co-Op reforms

A general view of a Co-operative food store, in the Strand, central London.

The way in which the news of Lord Myners' resignation has been released is "symptomatic of the tumoil at the Co-Op.

The former City minister tended his resignation earlier this evening and that there was an agreement to release this information in an 'orderly way' tomorrow but somebody left the meeting and immediately leaked it to the press.

A similar tactic forced chief executive Euan Sutherland to walk out after details of his salary were leaked to the press last month.

There is "enormous hostility" directed at Myners and Sutherland, who are outsiders brought into help modernise the Co-Op's "catastrophic governance structure."

More top news