MP concerned at proposed Co-op changes
The Co-op is holding their annual general meeting in Manchester, after which there will be a special meeting in which the changes suggested by the former City minister Lord Myners will be voted on. Meg Hillier, the Labour and Co-operative MP, and Patrick Gray, president of the Midcounties Co-operative, discussed the future of the group.
Meg Hillier told Today presenter Justin Webb: "The danger with what Lord Myners has proposed among other things is that the board is completely unaccountable. Less accountable in fact than in a shareholder company. And that's certainly not something that can go ahead and this is a motion that can mean everything to everybody."
"It's a business but it's not like any other business. It's a business that's owned by its members. If it's not that then it's not a co-operative."
And Patrick Gray explained: "We need to be sure that the appropriate people get onto the board."
First broadcast on BBC Radio 4's Today programme on Saturday 17 May 2014.
17 May 2014