Co-op Group chief executive Euan Sutherland has offered his resignation, the BBC's Robert Peston has learned.
Mr Sutherland says in the letter he believes the group is "ungovernable" under its current structure.
To persuade him to stay, the board has agreed to restructure so it can be managed in a more conventional way.
However, that reform has to be agreed by Co-op's members and their elected representatives
'Transformation'Mr Sutherland's resignation offer comes after reports suggested the group was recommending he should get a remuneration package worth £3.66m for 2013.
End Quote Lord LeveneThey got in a good professional to run the place, and it seems he looked, and decided it wasn't for him"
After the revelations over executive salaries, Mr Sutherland said on the Co-op's Facebook page there seemed to be "an individual, or individuals, determined to undermine me personally", but said he was "determined" to see through "the vital transformation of our business".
He added: "We appear to have disaffected people who are determined to make life difficult and embarrassing for the Co-operative at a time when what we need most are professionalism and loyalty to the business."
Mr Sutherland, who joined last May, said last month that 2013 had been "perhaps the worst year" in the Co-op's long history and it had "lost its way".
It followed a year of financial problems in its banking division and the scandal involving the division's former chairman Paul Flowers, who was arrested for alleged drug offences.
'Mutual movement'Mr Sutherland is thought to be "demoralised and fed-up", according to the BBC's business editor.
The resignation letter is broadly a "back-me-or-sack-me move" but he "still may well resign", the BBC understands.
Please turn on JavaScript. Media requires JavaScript to play.
Meg Hillier, Labour and Co-operative MP for Hackney South and Shoreditch, told BBC Radio 4's Today programme she was "shocked" Mr Sutherland was offering his resignation.
"He is running an organisation that is still run by its members, and he needs to be accountable to them. The Co-operative movement is a mutual movement where we make decisions together," she said.
'Good professional'Lord Levene, who headed a rival bid for Lloyds TSB branches in competition with the Co-op Bank, told the BBC that Mr Sutherland's resignation offer seemed to be part of a "never ending" series of misfortunes for the group.
"They got in a good professional to run the place, and it seems he looked, and decided it wasn't for him," Lord Levene said.
Co-op Bank was rescued last year under a deal with its bondholders after it emerged that it faced a £1.5bn black hole.
That black hole caused the bank's proposed takeover of more than 600 Lloyds TSB branches to fall through.
Later that year the company was hit by a fresh scandal when Mr Flowers was arrested in connection with a drug supply investigation. He remains on police bail.
The Co-op last month launched a nationwide poll - open until 24 March - to ask people for their views on its future.
The results will be published at the group's annual meeting in May.
Anda sedang membaca artikel tentang
Co-op boss offers his resignation
Dengan url
https://beritaberbagiceria.blogspot.com/2014/03/co-op-boss-offers-his-resignation.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Co-op boss offers his resignation
namun jangan lupa untuk meletakkan link
Co-op boss offers his resignation
sebagai sumbernya
0 komentar:
Posting Komentar