The former City minister Lord Myners has quit the board of the Co-operative Group after the company declined to take on his suggestions for reforming the business.

The move comes after the resignation of group's chief executive, Euan Sutherland who left after branding the Co-operative Group “ungovernable” in its current form.

Lord Myners produced a report for the company last month in which he said that troubled takeover deals had distracted senior management from making key decisions on the running of the group.

Lord Myners and Mr Sutherland had both tried to push reforms through aimed at making the group’s structure more akin to a publicly listed company.

In his initial findings, Lord Myners said that too many board members did not have business experience and future appointments to the senior team should be based on skills and experience.
Patrick Gray, president of Midcounties, the largest of the group's independent societies, told the BBC’s Today programme on Wednesday that any changes would only take place with negotiation.
"Most of the independent societies are deeply concerned, as we are," he added.

"We all support reform, but we want it to be done in a measured way. We don't want to be pushed into a corner and told either you accept this, or nothing.

"If he [Lord Myners] puts forward simply a menu on a take it or leave it basis, then we will vote against it."