According to reports, the chief executive of the Co-operative Group, Euan Sutherland, has written a letter of resignation following opposition to his radical reform proposals to get the group on track.
Mr Sutherland, who joined the group in May, is thought to have said that the group is simply “ungovernable” in its current structure.

According to the Guardian, the company’s board held a telephone conference late last night to agree a management reform which will see the chief executive take a place on the board, in-line with similar companies. It is hoped that the restructure will make the group easier to manage.