Co-op resolution calls for board's accountability

Members of the Co-operative Group have voted in favour of a shake-up over the way it is run. Detailed reforms including rule changes will still have to voted on at a later date and will require at least 66 percent support. The four point resolution has called for:

  • The creation of a board of directors ''qualified to lead an organisation of the size and complexity of the Co-operative Group''.
  • A move to the concept of ''one member one vote'', but with ''appropriate representation'' for the Co-op's independent societies.
  • Establishment of a separate structure which will give the group's eight million members powers to hold the board to account for the performance of the business and ''adherence to co-operative values and principles''.
  • Rules to protect against any ending of the group's mutual status.

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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.