Co-operative Group members met in Manchester today for their annual general meeting, where they voted on a total of 17 motions.
Members are asked to vote on matters covered by motions 1,2,10 and 12 every year. Motion 1 covered the receiving of the annual report for the year ending 2 January 2016, while motions 2 and 3 cover approval of the Directors’ remuneration report for the year ended 2 January 2016 and the Remuneration Policy.
Voting on Motions 3-9, members approved the re-election of chief executive Richard Pennycook as an executive director, the election of Ian Ellis as new executive director and the election of Lord Victor Adebowale, Peter Plumb, Simon Burke and Stevie Spring as independent non-executive directors.
Lord Adebowale is chief executive of Turning Point, a health a social care organisation and non-executive director of NHS England. Ian Ellis is the Group’s chief financial officer. Both Lord Adebowale and Mr Ellis were appointed with effect from 6 April.
Also selected on the board, Peter Plumb is chief executive of Moneysupermarket.com. He will join the board with effect from 25 June 2015, along with Stevie Spring, chair of ITG Group and BBC’s Children in Need and former chief executive of magazine Future PLC.
In accordance with the Group’s rules, all five non executive directors put themselves forward for election by members at the Co-operative’s AGM.
Simon Burke, who was re-elected on the Group’s Board first joined the Co-op as an Independent Nonexecutive Director on the Food Board in January 2014.
He assisted the Board in preparing the new governance proposals, which were adopted that August. He joined the Transitional Board in November 2014 and, following his appointment to the new Group Board, was appointed Chair of the Group Risk & Audit Committee in June 2015. He is currently Chair of The Light Cinemas and of Blue Diamond Group.
Motion 1 – carried with 97.48%
Motion 2 – carried with 91.47%
Motion 3 – carried with 90.08%
Motion 4 – carried with 95.19%
Motion 5 – carried with 95.31%
Motion 6 – carried with 91.82%
Motion 7 – carried with 94.44%
Motion 8 – carried with 95.12%
Motion 9 – carried with 93.42%