Mutual retailer triples boss’s pay to £2.2m despite fall in profits

OurCoop, the independent mutual which runs about 500 food stores across England , is facing criticism from members after it more than tripled the boss’s pay to £2.2m despite falling sales and profits. The chain, which is a separate company from the Co-op Group but relies on the much bigger business to supply some products, has not approved an annual profit-share payment to members this year, although they have received discounts on shopping. Total pay for Deborah Robinson, chief executive of OurCoop, which stretches from Wiltshire to Tyne and Wear, rose to £2.16m after she received an 11.5% increase in basic pay, an £1.1m “incentive” payment and £400,000 one-off discretionary remuneration payment. The finance, technology and property officer for the group, Selina Butterfield-Mashoofi increased her pay by more than 3.5 times to £1.13m, including a £500,000 “incentive” and a £212,015 one-off payment. Her basic salary jumped to from £257,606 to £400,000. OurCoop was formed by merging Central Co-op and Chelmsford Star Co-operative Society last year, and adding the Midcounties Co-operative in January. Sales at the group fell 4.4% to £844.6m and trading profit almost halved to £4.3m while net debt rose to £36m in the year to 24 January. It was partly affected because it sources goods via the Co-op Group, which was hit by a cyber-attack last year. The nationwide Co-op Group operates more than 2,000 food stores, hundreds of funeral parlours and a financial services business. …