Mutual retailer triples boss’s pay to £2.2m despite fall in profits

Mutual retailer triples boss’s pay to £2.2m despite fall in profits

OurCoop criticised by members after withholding annual profit-share payment despite soaring executive pay OurCoop, an independent mutual that runs about 500 food stores across England, is facing criticism from members after it more than tripled its chief executive’s pay to £2.2m despite falling sales and profits. The chain, which is a separate company from the Co-op Group but relies on the much bigger business to supply some products, has not approved an annual profit-share payment to members this year, although they have received discounts on shopping. Continue reading...