Two independent non-executive directors have been appointed to the Co-operative Group’s board.
Peter Plumb, chief executive of Moneysupermarket.com and Stevie Spring, chair of the ITG Group and BBC’s Children in Need and former CEO of magazine and digital publisher, Future plc, have joined the board, and will be up for election at next year’s annual meeting.
The Group said: “Both bring senior boardroom and turnaround experience as well as fresh perspectives from other markets.”
This is in line with advice by Lord Myners last year in his governance review. He said the board needed “highly competent and qualified” independent non-executive directors who “possess the skills and experience to exercise leadership and effective oversight of executive management running a business of massive scale and complexity”.
The role of an independent non-executive director is described by the Group as a member who does not have any ties to the Group and can provide “professional industry knowledge”.
Meet the directors:
Peter Plumb has been chief executive of Moneysupermarket.com, the leading price comparison service in the UK, since 2009. He studied civil engineering at Birmingham University and gained an MBA from IMD in Switzerland. He was UK managing director of dunnhumby, the engine room of Tesco’s Clubcard, and has also held senior leadership roles in top consumer businesses including Disney, Dyson and PepsiCo.
Stevie Spring is a board director with experience across the private, public and not-for-profit sectors. After a career in brand marketing and consumer advertising, she became CEO of Clear Channel, the world’s largest out of home company, then of Future plc, where she led its digital transformation. She has chaired the BBC Children in Need appeals since 2008. She will also chair the Group’s remuneration committee.