Co-op review will look at board, membership structure

LONDON (Reuters) - Britain's Co-operative Group, whose banking arm has been hit by a capital shortfall and drugs scandal involving its ex-chairman, said an independent review of its operations will examine its board structure and relationship with its members.

Ex-Treasury minister Paul Myners, who is leading the review, will publish his final report and recommendations in late 2014, the Co-op said on Thursday.

The Co-op said the review will make recommendations on the make-up of its board, including how many independent non-executive directors it should have. It will also examine how the bank can deal more effectively with its members.

(Reporting by Matt Scuffham; Editing by Steve Slater)