UK Co-op CEO Quits After Tough Year
Shirine Khoury-Haq will leave the UK Co-op Group on 29 March. The group had a hard year while she was in charge.
It suffered a cyber-attack and lost £126 million. Some people also called its workplace culture toxic.
Kate Allum will take over as temporary boss. Allum is a Member-Nominated Director and former boss of First Milk.
Klear Note — The Co-op Group is a major UK supermarket and banking company owned by members. Cyber-attacks can steal data and cost companies millions to fix.
Key Terms 4
- Co-op Group A large UK shop and services company owned by its members
- cyber-attack When criminals break into a company's computer systems
- Member-Nominated Director A board member chosen by the company's members, not outside investors
- interim boss A temporary leader who fills in until a permanent one is chosen