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Co-op 'needs radical and fundamental change', says Myners

Former City Minister Lord Myners has warned that the future of the Co-operative Group could be in danger, unless it adopts radical changes to the way it is managed.

His report said the mutual business - which reported an annual loss of £2.5bn in April - was "manifestly dysfunctional".

He told BBC News: "The Co-op is not a democratic organisation, the 8,000,000 members have very little voice, very little influence. It's been captured by group of insiders."

  • 07 May 2014
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