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Co-op CEO Euan Sutherland calls group 'ungovernable' in resignation letter


By Natalie Mortimer | N/A

March 11, 2014 | 2 min read

Euan Sutherland, chief executive of the Co-op group has reportedly offered his resignation.

In a letter penned to the group, Sutherland called it “ungovernable” in its current situation, after stating last month that the Co-op had “lost its way” in 2013, the BBC reports.

The news comes just two days after leaked documents revealed the group is preparing to offer Sutherland a pay packet of £3.6m. The CEO took to Facebook to criticise the leak.

Sutherland, who joined the Co-op in May 2013 is currently working to reverse the group’s recent problems which include a banking crisis and management drug scandal.

Last month, the Co-op announced that it would be selling its farming business, and was looking at doing the same with its pharmacies.

Reports say the resignation letter is a call for support.

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