The Co-operative Group has said that its chief executive, Richard Pennycook will work as chief operating officer after the group finds a new chief executive.
The move is part of a major management shake-up following the resignation of the chief executive, Euan Sutherland recently. Sutherland had been working to garner support for the plans to revive business but announced his decision to leave the company in the previous week describing the business as ungovernable.
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