Allan Leighton was reported last night to be in talks to become the first independent chairman of the battered Co-operative Group.
Sky News said that the former Asda chief executive, who has previously cited his father’s career as a Co-op store manager in interviews, was negotiating with the mutually-owned group’s board and that a meeting could be announced later this week.
The Co-op has been hit hard in recent years by large losses at its banking arm, a decline in revenues from its supermarkets and the resignation of its chief executive, Euan Sutherland, in March 2014.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies