The remuneration arrangements for senior executives announced in March are a betrayal of the founding principles of the Co-operative Group and are inappropriate for any company in the Co-op Group's current position. They will alienate Co-op Group members, customers, bank account holders and supporters. Please reverse them immediately or you risk destroying a once great organisation.
Why is this important?
Senior executive remuneration in many large companies is out of control and in disrepute. Mutual and co-operative movements have the opportunity to show a different way, one that is much more in tune with the majority of their supporters. If those supporters are alienated, as they will be if this benefits package is not revoked, they will vote with their feet. This will make the demise of the Co-op Group much more likely.