The Co-operative Group has revealed its governance reform proposals in an attempt to modernise and professionalise its image.
The group, which had previously suffered a period of crisis when it unveiled a massive deficit in its bank, now aims to reduce its board from eighteen to nine.
A council to represent members will be formed under the proposal and will act as “guardian of the Group’s Purpose, Values and Principles and the Society’s Constitution”. It will be composed of 100 members and will be led by a president, elected for a term of two years.
The Co-operative also has proposed for a senate to be elected by the Council, who will help co-ordinate the activities of the Council and act as a connection for all interactions between the Council, the Board, the Executive and members.
The Co-operative group chair Ursula Lidbetter said: “These governance reforms represent the final crucial step in delivering the necessary change to restore the Group and return it to health. This has been a process built on co-operation, focusing above all on creating a Society where every member has a voice in shaping the Group’s future. I would like to thank our members for their engagement in building a governance structure that strengthens the society and enhances member engagement and our unique democracy.”
