Leighton linked with Co-op chairmanship
THE former boss of Asda is being hotly tipped to become the new chairman of The Co-operative Group.
The Times said Allan Leighton, a veteran of boardrooms ranging from Royal Mail to Music Magpie to Matalan, has been given a mandate to put an end to infighting at the mutual organisation.
The part-time job is viewed as crucial to the Co-op’s chances of rebuilding its reputation.
The convenience stores, insurance and funerals provider has had a torrid last two years, with problems in its banking division causing a host of problems and forcing the sale of its pharmacies and farming businesses.
The Co-op spent much of last year engulfed in an internal battle over reforms to its structure, which traditionally was headed by a 19-member elected board.
Under governance reforms set out by former non-executive director Lord Myners, the Manchester-based mutual will now have a much slimmed-down executive board.
