AGM and May Council Meeting
The Co-ops AGm was held on the 19th May 19, as usual in Manchester. The Co-op has an excellent AGM website at this link . Ian Ellis our Chief Finance Officer reported on a solid set of results. If you look at the results the underlying profit for the society was £43m. Now, this looks very low for a business of our size. However, this was after we deducted £60m paid to members in the form of the 5 and 1 members reward. If this had been paid out of the bottom line, then our underlying profits would have been £103m, which starts to look OK. At the AGM, the results of the National Council elections were announced. Congratulations to Heather Barker who was elected for the first time in the South West. Again, all the results can be found on the AGM link. Our Board of Directors is voted on by the members. Some are elected on a straight yes/no ballot and some, the Member Nominated Directors face contested an election. For the MND electio...