The Co-operative Group has confirmed Lord Myners is stepping down as the society’s non-executive director.

Myners resigned yesterday, and less than 24 hours after it was revealed the co-op movement’s biggest independent society Midcounties Co-operative’s board voted not to support the recommendations drawn up by Myners last month to reform the Co-op Group’s governance.

In a statement, the society said Myners would remain a director until its agm on 17 May but “will not seek election at that meeting”.

“We are committed to reforming our governance and know that Lord Myners’ report will provide invaluable stimulus for the changes we need to make,” said Co-op Group chairman Ursula Lidbetter.

“I would like to thank Lord Myners for the work he is doing to ensure the Co-op Group is best placed to reform and, in due course, thrive,” she added.

Myners said: “I am pleased that I am going to be able to complete my governance review and that the outcome of that work will be presented to members at the general meeting. I am confident that there is a good future for The Co-op Group if it commits to doing the right things on governance and leadership.”

It also revealed four members of its group board would be stepping down at the agm. Steven Bayes, a nurse and member of its North regional board; Patrick Grange, a farmer and member of its North West and North Midlands regional board; and director Liz Moyles had not been re-elected.

Computer technician and member of the Co-op’s Scotland and Northern Ireland regional board Stuart Ramsay did not stand for re-election.