Paul Myners, Senior Independent Director of The Co-operative Group Board, published his report today on the Co-operative Group, who asked him to lead a comprehensive, independent review of the Group’s governance.

His recommendations are based around three core pillars:

1. A professional and effective Board comparable with competitor organisations.
2. The establishment of an elected National Members Council to hold the Board to account and act as the voice for corporate values and principles.
3. Introduction of full democracy, through one member one vote, in place of the current representative democracy which puts the Co-op in the hands of less than 0.01% of its 8 million members.

In the report, Paul says that the “reforms I have set out are fully compatible with the core values and principles of Co-operative ownership. I have no interest in advocating the adoption of a PLC model, as some of my critics have claimed. But I do want to see a governance structure that works; the present one has lamentably failed.” He goes on to say that “radical decisions on governance structure need to be taken very soon – and with resolution – if the Co-op … is to be saved. The decision lies in the hands of the elected democrats.”

Click here for a link to the full report.

For information on Paul Myners’ speaking availability, please contact our Managing Partner, Leo von Bülow-Quirk, at leo@chartwellspeakers.com or call +44 (0) 20 7792 8000