The Co-op Group has announced that chairwoman Debbie White is to step down from the retail giant. It is the latest in a string of high-profile departures from the company, which runs more than 2,300 food stores and 800 funeral homes across the UK.
Interim chair appointed
On Monday, the Co-op said Ms White will step down from the group, having first joined its board of directors in 2023 and been appointed chairwoman a year later. Moni Mannings, a senior independent director of the Co-op, will become interim chairwoman of the business.
Turbulent period and cost-cutting
Ms White helped lead the group over a turbulent period for the Co-op, which was heavily knocked by a cyber attack last year. Earlier this year, the Co-op defended its culture and the behaviour of its bosses after reports said senior managers had complained of a “toxic” environment at the retailer.
It is also pushing ahead with plans to cut £200 million this year in order to offset higher costs and secure its long-term financial stability. The departure comes in the midst of a major shake-up across its wider leadership team, with Shirine Khoury-Haq departing as chief executive in March. She was replaced by interim boss Kate Allum, who is continuing to lead the group. Meanwhile, Co-op group managing director Matt Hood also stepped down from the business earlier this summer.
Chairwoman's statement
Ms White stressed that the company has been making recent progress and said the process to appoint its new boss is under way. She said: “It has been a privilege to serve as chair of our Co-op during a period which has brought both opportunity and challenge for our businesses.
“Despite a variety of headwinds facing our businesses, and the impact of last year’s malicious cyber-attack, it is clear that the actions that we have taken are having a positive impact and will ensure we have the strong foundations to deliver on our vision and strategy.
“As our position strengthens, and with the process to appoint a permanent group chief executive under way, I feel that 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.”
