Posted on 2014-05-16 | 03:01

Ahead of the crucial national meeting which will decide the future shape of the Cooperative Movement, Roger backed changes when talking with Cooperative supporters in his constituency.

Said Roger: “The Cooperative Movement in the UK, which was formed over 150 years ago, has been hijacked by senior executives and managers who have totally undermined the principles behind the movement, while ‘filling their boots’ and behaving in the same rapacious and greedy way as sections of the banking and financial community which caused the financial crisis of 2008.”

Roger has already urged the Government and the FCA to withdraw the Cooperative name from the Cooperative Bank now that it is 70% owned by hedge funds and vulture funds. He said: “Sadly, these people were allowed to plunder the Cooperative Movement with their reckless and self-serving behaviour because there was not proper oversight through the democratic structures. Therefore, there has to be change which will ensure that the Board of the Co-op exercises proper control over its senior executives and managers.

“I am not convinced that all of the proposals put forward by Lord Myners should be supported, but there has to be change. There is a huge amount of goodwill towards the Cooperative Movement and what it stands for, and an enormous amount of anger from Cooperative members, shoppers and supporters at what has been allowed to happen within many parts of the organisation.”