Co-op boss Euan Sutherland hands in resignation letter

Co-op’s chief executive has offered his resignation, calling the group “ungovernable”.

Euan Sutherland handed in a letter of resignation, saying that 2013 had been “perhaps the worst year” in the Co-op’s history.

The news comes days after information about Sutherland’s and other executive’s renumeration packages were leaked. Sutherland then took to Facebook to condemn the leak.

“We seem to have an individual, or individuals, determined to undermine me personally. We appear to have disaffected people who are determined to make life difficult and embarrassing for The Co-operative at a time when what we need most are professionalism and loyalty to the business,” reads the Co-op’s Facebook page.

The group, which sells tech products such as TVs, laptops and cameras through the Co-op online store, is expected to report an annual loss later this month of as much as £2 billion.