The Co-op is to recruit a smaller board of 11 directors with "high standards of competence" as part of radical governance reforms.
The changes are based on the four-point resolution proposed by Lord Myners and voted on by members at the special meeting in May.
Interim chief executive Richard Pennycook said approval of the governance changes will mark the end of the rescue phase of the group following recent progress in shoring up its balance sheet.
Business as usual
A split set up this Sunday
Four Britons are dead after a serious crash in Al Khalas, a settlement roughly 30 miles north of the holy site of Mecca.