It’s impossible to exaggerate how important today’s vote on corporate governance at The Co-operative Group’s agm is.
“The Co-op Group desperately needs to restructure - vote yes today”
Beth Brooks, Deputy News Editor
The Co-op Group desperately needs to restructure so it has a group board with the right qualifications and experience to not only lead the society, but to also hold executive directors to account on both performance and co-op values.
That vote will be down to not ordinary members like myself, but about 600 elected members who, as Lord Paul Myners put it in his review last month, will need to “put their self-interest to one side for the greater good, acknowledging the collective failure of the current board and the crippling deficiencies of the entire governance system”.
A yes vote is the only way to make sure The Co-op survives for another 150 years. Independent societies are looking at other options for supply; but if the CRTG goes, they could not hope to enjoy the same terms. It would be the beginning of the end.
So to all those attending, and from one member to another, vote yes. No one wants to see The Co-op fail. And without reform, failure is inevitable.