Lord Myners quits board at troubled Co-op

Lord Myners has announced his shock resignation from the board of the Co-op Group, leaving the mutual in the middle of a review into its future.

The former Labour City minister has quit as the senior independent director of the troubled group less than two months after the resignation of chief executive Euan Sutherland. Myners (pictured) had been conducting a review of the Co-op's governance in the wake of the discovery last year of a £1.5bn black hole in the balance sheet of its banking arm. The Co-op said late yesterday the review would continue sdespite Myners departure. The lender's troubles are also being investigated by the regulator and the Prudential Regulation Authority. Myners initial findings have made for grim r...