Co-op Group CEO Khoury-Haq to Depart After £126m Loss

Shirine Khoury-Haq, chief executive of The Co-operative Group, announced her departure from the role on March 29, 2026, following a challenging year marked by a major cyber attack and a reported annual loss of £126 million. The member-owned retailer, which operates food stores, funeral services, and other businesses across the UK, appointed Kate Allum, a member-nominated director on its board, as interim chief executive effective March 30.

The financial results, covering the year to January 3, 2026, showed an underlying pre-tax loss of £126 million, a stark reversal from the £45 million profit recorded the previous year. Revenues declined 2.3 percent to £11 billion, with the cyber attack contributing a £285 million hit to sales and a £107 million impact on profitability. The incident, which occurred in late April 2025, involved hackers accessing personal data of all 6.5 million members. In response, the group restricted IT systems to contain the breach, leading to empty shelves, payment disruptions, and altered shopper behavior that persisted throughout the year.

Compounding these issues were additional headwinds totaling around £150 million, driven by rising regulatory costs,...