Yahoo Finance Co-op Launches Poll After 'Losing Touch'
The embattled Co-operative Group has admitted it "lost touch" with customers and wants help in guiding its future direction.
The mutual has launched an online poll as it seeks to move on beyond a disastrous 2013.
It was hit by a huge capital black hole in the banking arm and a scandal involving the bank's ex-chairman Paul Flowers.
Group chief executive Euan Sutherland said it would listen to suggestions made by customers, staff, members and the general public.
He said: "In recent years The Co-operative Group has lost touch with its customers and members and with the communities in which it operates - we haven't been listening."
"We will be asking people up and down the country what they believe the Co-operative should really stand for.
:: CEO Euan Sutherland will appear on tonight's Jeff Randall Live at 7pm.
"This is an unprecedented move for an organisation of the size and the scale of the Co-operative and the results will feed directly into our wider review of strategy and purpose."
The group said it wants to know what the mutual "should stand for", how it can help local communities and what it should do with profits.
It also wants to know if it should make political donations.
Former City minister Lord Myners is leading a review of its governance and revealed an annual Labour Party donation of £1m would be cut to save funds.
There have been questions over Labour's links to disgraced ex-bank chairman Mr Flowers - who was a Labour councillor - and embroiled in scandal after he was arrested as part of a drugs investigation.
The survey will take responses until March 24 with results published at the group's annual meeting in May.
The Co-op operates a variety of businesses, including supermarkets, pharmacies and funeral services.
Its 2013 results are due to be released in late March and expected to be weak.
Its banking business is now controlled by bondholders, including US hedge funds, who helped plug the £1.5bn capital black hole.
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