Euan Sutherland resigns from 'ungovernable' Co-op Group

Chief executive Euan Sutherland has stepped down, blaming a lack of ‘professional and commercial governance.

Co-op Bank
(Image credit: Christopher Furlong/Getty Images)

EUAN SUTHERLAND has resigned as chief executive of the Co-operative Group, describing the mutual group as "ungovernable".

Richard Pennycook, the Co-op's chief financial officer, will step into the role on an interim basis.

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