Today's post is prompted by the news that Euan Sutherland, the Chief Executive of the Co-op Group, has resigned after just 10 months in the post, saying that the Group was ‘ungovernable’. This appeared to be a reference to the unwillingness of the group to accept the more ‘commercial’ approach he advocated. Much attention has focussed on the fact that Mr Sutherland was paid £3.7M a year, more than twice that of his predecessor. To me what is more interesting (though no doubt related) is the fa
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