Co-op chairman decides to quit
Turmoil at the Co-operative Group continued as its chairman said he is quitting and its former chief executive labelled a deal to hand control of its banking arm to US hedge funds a "tragedy".
The customer-owned group said Len Wardle, who has been chairman since 2007, will leave in May.
It follows an appearance by Peter Marks before MPs on the Treasury Select Committee, when the former boss of the funerals-to-supermarkets group refused to take the blame for the Co-operative Bank's demise.
The member-owned group will be left with just 30% of the ethical bank under plans to repair a £1.5 billion hole in its balance sheet, with bondholders expected to take majority control.