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World Economy Apr 05, 2026

Co-op's Former CEO Shirine Khoury-Haq Received £1.9m Pay Package Despite Company's Difficult Year

The former CEO of Co-op, Shirine Khoury-Haq, received a £1.9m pay package in 2025 despite the compa…
The former boss of the Co-op collected almost £2m before her sudden departure last month despite a difficult year when the retailer was pushed into the red by a damaging cyber hack.Shirine Khoury-Haq’s total annual pay package amounted to £1.9m in 2025, including a £165,000 “rewarding growth” bonus that was approved by the mutual’s board despite falling sales and the slide to an underlying loss of £125m.Khoury-Haq and other executives did not receive their regular annual bonus as the board said the company had not met an “affordability underpin” to make the payout. However, Khoury-Haq’s total pay did include a long-term performance bonus linked to earlier years.In the Co-op Group’s annual report, the remuneration committee said it had decided to pay out 10% of the three-year potential total for the new “rewarding growth” incentive plan, which goes to all staff. Full-time, frontline workers, such as shop floor staff, who were employed for all of 2025 received £100 each under the scheme.The report did not say if Khoury-Haq would receive any compensation for loss of office on her departure but did make clear she would not receive any more from the “rewarding growth” scheme. Kate Allum, a board member and former boss of the dairy group First Milk, will step in as the interim chief executive while a permanent replacement is sought.Khoury-Haq’s departure after four years heading the company, and almost seven at the business, came a month after reports of concerns about the culture at the top of the group. Last week, Khoury-Haq denied that her resignation was linked to the allegations of a toxic culture. “My decision to leave was very much a personal decision,” she said. “The reason is I want to go and do something else.”
#co-op #year #not
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Business Apr 03, 2026

Reese Heir Blames Hershey for Secret Recipe Swaps, Citing Consumer Backlash and Shareholder Sell‑Off

Brad Reese, grandson of Reese’s Peanut Butter Cups inventor, alleges that Hershey has replaced the …
The 70‑year‑old grandson of H. B. Reese, the man who created Reese’s Peanut Butter Cups, has publicly accused the $42 billion Hershey Company of quietly swapping the original milk‑chocolate and peanut‑butter formulas for cheaper compound coatings and “peanut‑butter‑style crèmes.”Brad Reese’s complaint, first aired on LinkedIn on Valentine’s Day, claims the confectionery giant has been “rewriting recipes” across flagship brands, a practice he describes as an “ingredient drift” that undermines both brand integrity and shareholder value.At a recent investor conference, Hershey announced it would restore the classic recipes for roughly 3 % of select products by next year, while insisting that the iconic Reese’s Peanut Butter Cups have never been altered.Chief Growth Officer Stacy Taffet explained that the company is “transitioning our sweets portfolio to colors from natural sources” and is committed to aligning all Hershey and Reese’s offerings with their historic milk‑ and dark‑chocolate formulas.Reese, however, dismissed the move as a “board‑level accountability problem,” arguing that the delayed rollout has already prompted shareholders to sell stock and that “your consumers are revolting.”In an interview with the New York Times, Reese labeled Hershey’s actions a “PR stunt,” insisting that a genuine commitment would mean an immediate return to the original recipes.Hershey counters that the recipe revisions are not a reaction to Reese’s criticism but stem from a strategic decision made after a 25 % increase in research and development spending aimed at talent, technology, and nutrition science.The dispute has taken on a personal dimension for Reese, who alleges the changes began after Hershey acquired the Reese’s brand in the 1960s. He recounts a recent taste test of Reese’s Unwrapped Chocolate Peanut Butter Creme Mini Hearts, stating, “I had to spit it out—it wasn’t real milk chocolate or real peanut butter.”Reese’s family, speaking to USA Today, clarified that his statements are his own and do not reflect the family’s view, adding that they continue to respect Hershey’s leadership and believe H. B. Reese would be proud of the brand’s current stewardship.Undeterred, Brad Reese retorted on LinkedIn that Hershey is “shooting the messenger,” accusing the company of managing perception rather than fixing the alleged product issues and warning that “the evidence chain isn’t going away.”
#Hershey #Reese's Peanut Butter Cups #Brad Reese
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Science Mar 27, 2026

Whales Observed Assisting Each Other During Birth in Rare Underwater Footage

Scientists have captured rare footage of sperm whales assisting each other during birth, a behavior…
For the first time, scientists have documented whales assisting each other during birth, a behavior previously only observed in primates. A team from Project Ceti, an international effort to understand whale communication, captured the extraordinary footage off the coast of Dominica in the Caribbean on July 8, 2023.The team observed a pod of 11 whales, including a 19-year-old female named Rounder, who was about to give birth to her second calf. Over nearly five and a half hours, the scientists documented the group's behavior, filming them with drones and recording sounds underwater. This exceptional rarity in the history of science was published in the journals Scientific Reports and Science.Out of 93 species of cetaceans, only nine have been observed giving birth in the wild. What's even rarer is that unrelated whales were helping the mother. The birth lasted 34 minutes, during which other adult females dived under Rounder's dorsal fin, often on their backs with their heads facing her genital slit.Immediately after birth, the pod's behavior changed rapidly, with all adults touching and squeezing the newborn's body with their heads, pushing it around underwater and on their bodies above the surface. This behavior is believed to help the newborn calf, which sinks after birth, prevent drowning and facilitate its first breaths.The scientists also recorded significant changes in vocalization during the birth, suggesting that the group was coordinating to support the birth or protect the newborn. Sperm whales have one of the longest pregnancies in the animal kingdom, with a gestation period of up to 16 months, and calves rely on their mother's milk for at least two years.The newborn was spotted again on July 25, 2024, with other young members of the pod, indicating that it had survived its first year, a good sign of reaching adulthood.
#sperm whales #Dominica #marine mammals
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World Economy Mar 26, 2026

Co-op CEO Steps Down Amid Cyber-Attack Fallout and Toxic Culture Claims

The Co-op Group's CEO, Shirine Khoury-Haq, is stepping down after a difficult year marked by a cybe…
The Co-op Group has announced that its chief executive, Shirine Khoury-Haq, will step down this weekend after a challenging year that included a cyber-attack and recent claims of a “toxic” culture at the business.Khoury-Haq will depart on 29 March, and Kate Allum, a board member and former boss of the dairy group First Milk, will step in as interim boss while a permanent replacement is sought.The company, which owns more than 800 funeral parlours and an insurance and legal advisory business, as well as operating more than 2,000 convenience stores, reported an underlying loss of £125m. This is a significant drop from a £45m profit the year before, largely due to a £107m profits hit from the damaging IT hack.Khoury-Haq denied that her resignation was linked to the allegations of a toxic culture, stating that her decision to leave was a personal one. She expressed her desire to “go and do something else”.Sales at Co-op fell 2.3% to £11bn in the year to 3 January, following the mutual’s shops being left with gaps on shelves after the cyber-attack, which knocked £285m off sales.The group cited a “contracting convenience market” and “layered cost headwinds” of about £150m during the year, due to increases in employers’ national insurance, pay and packaging taxes.Khoury-Haq’s departure comes a month after reports of concerns about the culture at the top of the group. In February, the Co-op defended the behaviour of its bosses after reports said senior managers had complained of a “toxic” environment at the retailer.
#co-op #culture #year
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