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Co-op members vote in favour of radical reforms

Co-operative members have unanimously voted in favour of Lord Myners' far-reaching reforms at a special meeting today.

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Co-op ballot on slimmed down 'plc and beyond'

Former City minister Lord Myners wants to replace this with a slimmed-down "plc and beyond" structure staffed by professionally-trained directors.

The former Marks & Spencer boss was appointed a director of the Co-operative Group in December but announced he is to leave following this weekend's vote.

Former City minister Lord Myners. Credit: Anthony Devlin/PA Wire/Press Association Images

He has said it was apparent to him from the first time he attended a board meeting that not one of its members had the ability to address the complex issues faced by a group burdened with £1.4 billion of debt.

This weekend's ballot will be decided by representatives of its independent societies and affiliated organisations - who hold 22% of the vote - and others voting on behalf of its regional membership boards making up the remaining 78%.

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