CO-OP MEMBER-OWNERS MAKE THEIR VOICES HEARD AS PART OF TODAY’S AGM

18 May 2024

Voting results for motions and Member Nominated Director election announced at today’s Annual General Meeting

Today, as part of its AGM, member-owners of the Co-operative Group joined Directors and leaders to understand more about their business, including its performance and its plans for the future.

Attending at the new Co-op Live arena or joining remotely from home, proceedings included an opportunity for member-owners to ask questions of the Board and leaders; for eligible member-owners to cast their vote and for everyone to learn the final voting outcome over 13 motions that will help shape the business.

For the first time, the AGM also included an interactive member discussion, giving member-owners the opportunity to provide their views and discuss topics which they most care about and want our Co-op to take action on, informed by a survey of Co-op member-owners.

Motions included support for the safeguarding of retail colleagues, the creation of further value for member-owners and the marketing of Co-op’s unique member-owned business model, to promote what it offers newcomers and existing member-owners alike.

The results of the Member Nominated Director (MND) elections were also announced. There were two seats this year – existing MND, Kate Allum was successfully re-elected, and Christine Tacon will join Co-op’s board for this first time, as member-owners’ chosen representative.

The Annual General Meeting was led by Co-op Chair Debbie White – her first since being appointed last summer; CEO Shirine Khoury-Haq; CFO Rachel Izzard and Denise Scott-McDonald, President of the National Members’ Council.

On today’s meeting, Debbie White said; “The democratic value our Co-op offers member-owners is what makes us unique. It sits alongside the economic value and the social value we work so hard to realise, in support of everything our members and our communities are facing in to right now.

“Especially after the increase we’ve seen in active member-owners, now at more than 5 million, it was a privilege to witness first hand how their votes will give the business we share a new direction towards meaningful change.”

Voting results:Motions

1 To receive the Annual Report and Accounts for the period ended 6 January 2024.

Carried

For: 98.38%

Against: 1.62%

2 To approve the Directors’ Remuneration Report for the period ended 6 January 2024.

Carried

For: 87.62%

Against: 12.38%

3 To receive our Sustainability Report for the period ended 6 January 2024.

Carried

For: 97.79%

Against: 2.21%

4 To elect Rachel Izzard as an Executive Director.

Carried

For: 94.61%

Against: 5.39%

5 To elect Debbie White as an Independent Non-Executive Director.

Carried

For: 86.42%

Against: 13.58%

6 To elect Adrian Marsh as an Independent Non-Executive Director.

Carried

For: 79.98%

Against: 20.02%

7 To elect Moni Mannings as an Independent Non-Executive Director.

Carried

For: 92.15%

Against: 7.85%

8 To elect Luke Jensen as an Independent Non-Executive Director.

Carried

For: 94.34%

Against: 5.66%

9 To re-appoint Ernst & Young LLP as our auditors and authorise the Risk and Audit Committee to fix their remuneration.

Carried

For: 95.97%

Against: 4.03%

10 To seek approval to incur political expenditure, including donations and/or subscriptions to political parties, not exceeding £750,000 in total for the year commencing 1 January 2025.

Carried

For: 70.78%

Against: 29.22%

11 National Members’ Council motion – Economic Value Member Prices on Healthy Products (and ingredients.)

Carried

For: 97.90%

Against: 2.10%

12 National Members’ Council motion – Social Value Retail Crime and Re-offending (an increased focus on Co-op’s Safer Colleagues, Safer Communities campaign.)

Carried

For: 98.39%

Against: 1.61%

13 National Members’ Council motion – Ownership Value Our Co-op DNA (for Co-op to further promote what it means to be a member-owned business which puts people before profit.)

Carried

For: 97.53%

Against: 2.47%

Results for the election of Member Nominated Directors

John Dalley Unsuccessful

Kate Allum Successful

Christine Tacon Successful

Mitch Oliver Unsuccessful

John Steel Unsuccessful

John Clarke Unsuccessful

ENDS

Note

About Co-op: Co-op is one of the world’s largest consumer co-operatives with interests across food, funerals, insurance and legal services.

Owned by millions of UK consumers, Co-op operates almost 2,400 food stores, over 800 funeral homes and provides products to over 6,000 other stores, including those run by independent co-operative societies and through its wholesale business, Nisa Retail Limited.

Employing 56,000 people, Co-op has an annual turnover of over £11billion and is a recognised leader for its social goals and community-led programmes. Co-op exists to meet members’ needs and stand up for the things they believe in.

For more information contact: Tom Cooledge, tom.cooledge@coop.co.uk