Website The Co-op Online Founded 1958 | Headquarters Sydney, Australia Type of business Non-profit books retailer | |
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The Co-op is the largest academic and professional non-profit books retailer in Australia.
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History
The Co-op was established by students led by the late Malcolm Broun, Celtophile, bibliophile and lawyer, in 1958 at the University of Sydney and has grown to become the largest provider of educational, professional and lifelong learning resources in Australia. With over 60 branches across Australia, numerous additional services and more than 2 million members, the Co-op is more than just a bookshop.
The Co-op is registered under the NSW Co-operatives Act 1992 (the Act)
The Co-op is a Member of the Australian Campus Booksellers Association, ACBA.
The company is the largest cooperative in Australia, and the second largest book seller. In 2004 it produced a turnover of $75 million.
In August 2016 the company acquired the Australian Geographic retail chain.
Criticisms
Students activists, former board members and co-op members have accused the co-op of drifting away from the original values of the co-operative movement: democratic-engagement, non-profit and transparency. According to the Canberra Times, in the early 90s directors with backgrounds in publishing and academia lost a factional battle to accountants who increased directors’ salaries and gradually made it harder for members to participate in board elections. In 2004, two disenchanted Sydney University Students launched a campaign to elect themselves onto the board to argue for cheaper textbooks and reduced directors’ salaries. They claim the co-op responded by adding more obstacles to student participation, such as moving their AGMs to Hobart, increasing the number of members’ signatures required to call SGMs from 200 to 10,000 and introducing requirements to be elected to the board that students cannot meet. Currently, to be elected to the board an individual must: 1) "demonstrate participation in the management and direction of a medium to large size business of not less than five years in aggregate" and 2) "have graduated from a recognized University...or TAFE degree”. In 2016, Chief Executive Officer Thorsten Wichtendahl told Student Magazine Farrago, “Quite frankly, I wouldn’t want to be reporting to a 21-year-old, first-year uni student. I take my guidance, strategic direction, coaching and mentoring from our board of directors – experienced company directors.”