Co-op chief quits over Flowers allegations

Another day, another executive bites the dust at the Co-operative – this time the group’s chairman Len Wardle has stood down with immediate effect.

Mr Wardle had been nicknamed “Teflon Len” due to the fact that despite being one of the oldest serving members of the group, none of the company’s scandals had so far stuck to him.

That is, until the revelations that Paul Flowers, the former chairman of the Co-op bank, who was appointed by Mr Wardle, was secretly filmed appearing to buy crack cocaine and crystal meth.

Mr Wardle was due to step down next spring anyway, but the Flowers revelations made his position untenable. In part because, alongside the drugs scandal, critics also said it was clear that Mr Flowers, a Methodist minister, did not have enough experience for the job and should never have been appointed.

In a statement, Mr Wardle said: “The recent revelations about the behaviour of Paul Flowers, the former chair of The Co-operative Bank, have raised a number of serious questions for both the bank and the group. I led the board that appointed Paul Flowers to lead the bank board and under those circumstances I feel that it is right that I step down now, ahead of my planned retirement in May next year.”

His resignation comes after the Co-op said last night it was launching an immediate review into any wrongdoing surrounding the Flowers affair, which is being investigated by the police.

The Co-op said Mr Wardle will be replaced by Ursula Lidbetter, currently the group’s deputy chair and chief executive of the Lincolnshire Co-operative Society.

It added that Ms Lidbetter will remain as chair through the board’s current governance review, which will include consideration of how the board is constituted.

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