5. SUTHERLANDS QUITS AS CO-OP CHIEF
Chief executive of the Co-op, Euan Sutherland, has stood down describing the mutual group as "ungovernable". He said it had been "impossible to implement" changes that would give the Co-op a "sustainable future". An emergency board meeting failed to persuade Sutherland to say. Richard Pennycook, chief financial officer, will take over on an interim basis.