Euan Sutherland
Media playback is unsupported on your device
Video

Co-op Group accepts resignation of chief executive Sutherland

The Co-operative Group said it has accepted Euan Sutherland's resignation as chief executive, and that chief financial officer Richard Pennycook will act as interim boss.

His departure comes after he said efforts to overhaul the business became "impossible" because of the Co-op's failure to change its governance.

Robert Peston reports.

Go to next video: Co-op facing 'challenging times'