The Co-operative Group has announced new appointments at board and executive levels.
Lord Victor Adebowale CBE joins the board as an independent non-executive director, also effective from 6 April 2016. Lord Adebowale is chief executive of health and social care organisation Turning Point, and is also a non-executive director of NHS England, the London School of Economics, IACOM Ltd and Leadership in Mind. He is a special advisor at Locality and has advocated co-operative models of service delivery, co-production and community commissioning at local council level.
Co-operative Group on track to recovery, while CEO cuts pay packet
He is also president of the International Association of Philosophy and Psychiatry, a visiting professor and chancellor at the University of Lincoln and an associate member of the Health Service Management Centre at the University of Birmingham and of the Cambridge University Judge Business School.
In accordance with the Group’s Rules, Lord Adebowale and Ian Ellis will put themselves forward for election by members at the Group AGM on 21 May.
The Group has also announced the permanent appointment of Pippa Wicks as chief operating officer, Ms Wicks has been working with the Group since 2014 from business consultants Alix Partners, where she co-founded the firm’s european operations and will continue as non-executive chair.
Following feedback from members, the Group’s remuneration committee has agreed that anyone appointed to the executive will now have a six month notice period instead of the current 12 months. This follows a previous decision by the executive to voluntarily reduce their pension contributions from 16% of salary to 10%, in line with less senior colleagues.
Announcing the changes, Group chair Allan Leighton said: “These are important changes that will further strengthen our governance and oversight on behalf of our members. I am delighted that we are attracting top talent at all levels of the Group to help us build on the great work that is being done to rebuild the Co-op, and I warmly welcome Victor and Ian to the board.”
He also welcomed the news that Group chief executive Richard Pennycook is voluntarily taking a 60% pay reduction. “The move by Richard to reduce his pay shows the Co-op difference in action, as we champion a better way to do business for our members and their communities,” said Mr Leighton.
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