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13 April 2014

Former City Minister Lord Myners

the-Coop_bankThe man brought in to revive the fortunes of the Co-Op Group quit last night just four months into his job.

Former Labour City Minister Lord Myners did not hold back in his assessment of the company.

In his initial review, he said the Co-op group had made “breathtakingly value-destructive decisions”.

Speaking last month, he said in an internal video: “The executive team has been treated with a degree of disdain by members of the group board.

“I’ve actually been quite shocked by how one or two directors have spoken to our executive team.”

The move has plunged the company’s future further into doubt.

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