Retail boss quits ahead of major £200m cost-saving plan

• Co-op chief executive Shirine Khoury-Haq is stepping down, with Kate Allum appointed as interim CEO.
• The retail and funeral care giant plans to cut £200 million in costs this year, partly due to higher labour costs and taxes.
• Ms Khoury-Haq did not rule out job losses as part of the extensive cost-cutting measures.
• The company reported a £126 million underlying pre-tax loss for the year, a significant drop from the previous year's profit, largely due to a £107 million impact from a cyber attack.
• Co-op has also faced allegations of a "toxic" workplace culture and a £285 million impact on revenues from the cyber attack.

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Co-op boss steps down following ‘toxic culture’ claims and cyber-attack