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Should the Co-op CEO resign?
http://www.bbc.co.uk/news/business-26525590
The story is that he was taken on 11 months ago on a salary of £3 million a year. During his watch, the Co-op lost a lot of money and will have to sell off their farms. Sutherland is angry that his salary, which was supposed to have been kept secret from the Co-op shareholders, was disclosed. He argues that the Co-op is ungovernable and should abandon the mutual status, upon which it was founded more than a century ago, and should become a conventional business with a board he can control.
Is he right? Is he worth the money? Is his model of business the right one for the future? Should be battle on, despite not being able to rely on his staff being discrete about his salary?
Prime Minister David Cameron's salary is £142,000 per annum. Footballer Gareth Bale's salary is £15.6 million, so the CEO's going rate is somewhere between the two.
The question I asked here on this an hour ago was reported and deleted.
Here is one interesting answer in response to my earlier question:
Hi i can't see this is real as it shows a great lack of knowledge about how big business works. sounds more like plot for a book. far too simplistic in it's content.
yes the share holders do have the right to determine such things and vote you out of a position and claim back money paid.
so yes it sounds like a child writing a book with no knowledge of how a company is run.
the egotistical attitude is the real give away the statement I am far more important does give you away child like statement.
get over yourself. you sound so child like in your reasoning.
so been watching too many fictional characters on films.
Do you agree with the somewhat harsh judgement?
6 Answers
- WENDEL HOMESLv 77 years agoFavorite Answer
What the CO-OP needs is for each investor to invest a little more money to boost its reserves and the members to be more active in its control sorting out the gold from the dross within the board, appointing a fresh long term CEO who has talent and morals that fit CO-OP values.
It is no use in putting in place a CEO who wants to sell off assets to boost the coffers of other bigger over greedy banks lengthening the time needed for the CO-OP's inevitable recovery as a MUTUAL
Ordinary investors need MUTUALS if their investment is not to be a cash cow for carpet baggers.
- Anonymous7 years ago
Says more about those lot running the company really
This whole thing goes against the principles of a mutual company
He should really be looking to work for a normal business
And maybe those who appointed him should consider their own positions
- Anonymous7 years ago
A mutual company shouldn't really be doing these 'secret deals' behind the backs of members. Sounds like quite a few people need to resign and that something has gone badly wrong in something that was once a good organisation, and hopefully can get back to doing what it is supposed to.
- ?Lv 77 years ago
Breaking news. The asker will be delighted that this mans resignation has been accepted. Stop press. As usual I bring the best and I bring it first.
Source(s): http://www.bbc.co.uk/news/business-26525590 - How do you think about the answers? You can sign in to vote the answer.
- Anonymous7 years ago
Hi now why is the question i suspect as most do some kind of censorship is used on here.
- Ree 9Lv 57 years ago
Why is he worth so much ... share it with the staff NO ONE is worth that much... Can he absolutely guaranty that he can MAKE that and more in the next year !
