Paul Flowers. Photograph courtesy of The Co-operative
Len Wardle, chairman of the Co-operative Group, has resigned in the wake of the drugs scandal surrounding former Co-operative chairman Paul Flowers.
Flowers chaired the Co-operative Group until July when he stepped down from the board, and was recently caught on video allegedly buying cocaine and boasting of “snorting the good stuff” before meetings with the Treasury Select Committee over problems with Co-operative Bank.
Len Wardle had been due to step down in May 2014, but took the decision to resign immediately as he led the board that interviewed and appointed Flowers.
In a statement Wardle said:
The recent revelations about the behaviour of Paul Flowers…have raised a number of serious questions for both the bank and the group.
I led the board that appointed Flowers to lead the bank board and under those circumstances I feel that it is right that I step down now.
Wardle will be replaced by Co-operative Group debuty chair Ursula Lidbetter.