


| Co-op boss Richard Pennycook takes a 60% pay cut to get firm back on its feet |
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The boss of the Co-operative Group has had his request for a hefty 60 per cent pay cut accepted by the mutually-owned firm's board. Chief executive Richard Pennycook asked for his pay to be slashed to £750,000 from £1.25million in order to better reflect the demands of his job now that the 'the rebuild of the group is well under way'.
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