Co-op CEO's £1.9M Payday Amidst £125M Loss

Former Co-op Chief Executive Officer Shirine Khoury-Haq received a total pay package of £1.9 million in 2025, even as the retailer reported an underlying loss of £125 million and dealt with a damaging cyber-attack.

The 2025 figure included a £165,000 discretionary payment described as a “rewarding growth” bonus. The board approved that payout during a year in which sales fell and the company did not achieve its standard annual bonus outcomes because of an “affordability underpin,” according to the details provided.

Khoury-Haq’s overall remuneration for 2025 was lower than the prior year. Her package declined from £2.2 million in 2024 to £1.9 million in 2025, the company’s disclosures show.

The “rewarding growth” incentive plan referenced in the pay breakdown is a three-year scheme that applies across the workforce. For the year in question, it delivered a 10% payout, and full-time frontline staff received £100 each under the programme.

The remuneration committee linked the discretionary element to the company’s response to the cyber-attack. It cited the “tremendous hard work and effort of all colleagues” during that period as the rationale for proceeding with the payment despite the wider performance backdrop described in the same disclosures.

Khoury-Haq left the Co-op last month after four years in the top role. Her exit came after reports that raised concerns about the company’s internal culture, though she said her decision to depart was personal.

Kate Allum has been appointed as interim chief executive. The leadership change arrives as the retailer is managing the financial outcome reflected in the £125 million underlying loss and the operational disruption associated with the cyber-attack, alongside questions raised publicly about workplace culture.