Summary
The Co-operative Group is refocusing on the principles established by the Rochdale Equitable Pioneers in 1844 after stabilising the business following the 2013 banking crisis. Under Murrells' leadership, the mutual has introduced a five-year plan titled 'Stronger Co-op, stronger communities' to address social issues including homelessness, poverty and poor health across the UK.
The group returned £79m to members and local causes in 2018, with £19m distributed to local projects. Its pension fund is investing £50m in social and affordable housing for the first time, with 1,000 homes planned across Scotland and Yorkshire. The retailer has also launched initiatives including the UK's first compostable carrier bags, electric bike delivery trials, and plans to expand its academy schools from 23 to 40 within two years.
As the UK's sixth-biggest grocer with 6% market share and dominant funeral provider, the Co-op is now re-entering healthcare through a digital repeat prescription service. Murrells said the mutual's structure allows it to address community challenges differently from listed companies, positioning the business to play a distinctive role in UK social and economic recovery.
Read the full story at Manchester Evening News
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Common questions
- What is this article about?
- Steve Murrells, chief executive of The Co-operative Group, has outlined plans to rebuild the Manchester-headquartered mutual around its founding social mission, with initiatives spanning affordable housing, community spaces and healthcare. The group, which employs over 5,000 people in Greater Manchester, returned £79m to members and local projects in 2018 and is investing £50m from its pension fun
- When was this published?
- This article was published on 6 June 2019.
- Who published this article?
- This article was published by Manchester Evening News.