The Co-op has been urged to back radical forms suggested by Lord Myners, that will sweep away the "dysfunctional" board which presided over the company's near collapse.
In an interview with Business Editor Joel Hills, Lord Myners said his recommendations needed to be implemented swiftly to enable the business to survive and thrive.
More top news
After flooding and thunderstorms, a quieter night ahead
Boris Johnson announces funds for troubled country in a bid to stop an influx of illegal migrants and terrorists taking advantage of chaos.
The former US Presidential candidate says her "skin crawled" during her infamous second TV debate with Donald Trump in a new memoir.