Co-operative Group annual general meeting 2014

The 2014 Co-operative AGM formed, according to chair Ursula Lidbetter, part of a “historic” day for the Group. On the back of the organisation’s worst results in its...

The 2014 Co-operative AGM formed, according to chair Ursula Lidbetter, part of a “historic” day for the Group.

On the back of the organisation’s worst results in its 150-year history, Members unanimously voted for reform in a special general meeting; Sir Christopher Kelly and Lord Paul Myners spoke on their respective reports into governance; and the Group unveiled its new purpose.

  • Co-operative Group sets out its bold vision for the future

    “Championing a better way of doing business for you and your communities,” is the new business purpose for the Co-operative Group. It was announced by Richard Pennycook, the Group’s interim chief executive, following the organisation’s annual general meeting. He said the purpose had been designed to enable the society to go back to its original co-operative roots and has been developed ...

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  • Members’ vote for reform is a turning point, says Myners

    Lord Myners welcomed the unanimous vote by Co-operative Group members to support governance reform, telling the Group’s annual meeting that it marked a turning point. “It’s a paving resolution,” he told delegates. “I’ve done what I can do, it’s now in your hands. You are the democrats, it’s for you to determine what should be done.” The former City minister, who was appointed by the Group’s ...

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  • Group chair says delegates have a ‘responsibility’ for the co-op’s future

    In an address at the Group’s annual general meeting, Co-operative Group chair Ursula Lidbetter called on elected members to take action over the future of the society. Opening the Group's AGM, Ms Lidbetter said it was "imperative" members install a sustainable framework since the current "governance structure has let us down" and acknowledged that “2013 was a disaster waiting to ...

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  • Elected members ask for a 10% cut in fees

    In an attempt to reduce costs, the Scotland and Northern Ireland region of the Co-operative Group proposed that elected members voluntarily reduce their committee fees by 10%. However, this motion was narrowly voted down by delegates. Currently, elected members are paid fees that range from £2,000 on an area committee to £120,000 as the Group chair. Being on the regional board nets an ...

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  • Group board notes executive pay ‘concerns’

    Delegates have backed a call to curb executive pay during a period of “austerity”. A motion from the Central and Eastern region expressed “concerns” over increases in remuneration at a time of “potential redundancies”. It was supported by 67% of delegates. In March, it emerged that the Group’s remuneration committee had made plans to double the wage bill to £12m for the executive team. ...

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  • Second phase of cost cutting will look at ‘efficiencies’ across the Group

    Elected members told the Co-operative Group board it was “disappointing” that corporate overheads have not been reduced. The North region motion, which was backed by 100% of delegates, said it recognises the need for savings in operational and membership areas, as part of Project Orion. But added: “It is disappointing to note the lack of similar achievements in the area of corporate ...

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  • Local food will become a reality in one year, says Co-operative Group

    In response to a motion from the Central and Eastern region that said the Group must be responsive to the needs of the local communities it serves, the Co-operative Group has stated that it will be a leading supporter of local and regional food producers by 2015. The motion said stores have an “inability” to stock food that reflects the local community, and that its funeral division does ...

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  • Co-operative Group considering pay ‘reward scheme’, but delegates vote for pay ratios

    Implementing a set pay ratio at the Co-operative Group will validate the society’s claim to be “here for you, for life”, according to elected members. The Scotland and Northern Ireland region led the calls for the board to research and adopt a policy on pay ratios by its November half yearly meeting. It cites research from the Work Foundation that said that top public servants should ...

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  • The Co-operative Group's One Angel Square head office in Manchester

    Co-operative Group delegates back governance reforms

    Co-operative Group delegates have unanimously backed reform of the society. In a special general meeting, following the annual meeting on Saturday, delegates from Co-operative Group regions and independent society members backed the first step to change the governance structure of the society. One hundred and sixty four delegates from seven regional boards and 21 independent societies took ...

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