Co-op Chairwoman Debbie White has become the latest senior figure to resign following a damaging cyberattack and allegations of a "toxic" executive culture.
Her resignation follows that of Chief Executive Shirine Khoury-Haq who stepped down in March after four years in the post.
Their departures follow a difficult period for the mutual, during which it faced allegations, which it denied, of a toxic culture and a cyberattack that cost it £200million in lost revenue.
White had only been in the role since February 2024, and is being replaced by Senior Independent Director Moni Mannings on an interim basis until a permanent successor has been found.
The Times reports Co-op, which runs more than 2,300 food shops as well as 800 funeral homes, reported pre-tax losses of £126million in its latest full year results, a sharp drop off from a £45million profit the previous year.
Announcing her resignation, White said it had been a "privilege" to serve as Chair, and that actions in response to the cyberattack were having a "positive impact".
She went on: “As our position strengthens, and with the process to appoint a permanent group chief executive under way, I feel it is the right time to step down as Chair as I near the end of my first term on the board, as I am not in a position to commit to a further three-year term as chair at this time.”
FSTE100
The UK's flagship share index, the FTSE 100, was down 31 points at 10,855 shortly after opening this morning.
Brent crude oil futures were up 1.74%, sitting at $89.25 a barrel this morning.
Companies reporting today
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