Uk.Finance.Yahoo Co-op Group CEO Resigns After Major Cyber Attack and Financial Losses
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- •Co-op Group reported a £126 million loss due to a cyber attack and market conditions.
- •CEO Shirine Khoury-Haq will resign amid claims of a toxic workplace culture.
- •The cyber attack caused £285 million in lost sales and £107 million in profit losses.
The Co-op Group has reported a £126 million loss for the year ending January 2026, primarily due to a cyber attack in April 2025 that cost the company £285 million in lost sales and £107 million in profits. CEO Shirine Khoury-Haq will step down on March 29, 2026, following claims of a 'toxic' culture within the organization. The cyber attack resulted in significant operational disruptions, including payment issues and product shortages, affecting all 6.5 million members. The company has announced plans to cut £200 million in operating costs to recover profitability. Despite the challenges, the Co-op aims to stabilize and transform its operations moving forward. The incident has prompted government action, including a £210 million package to bolster cybersecurity across the retail sector.
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