The bank, likely to end up being 70% owned by its bond holders following a £1.5 billion capital raising exercise, said Bill Thomas has expertise of leading major change in large organisations.
Mr Thomas has spent much of his three decade business career in the IT sector and rose to become executive vice-president at EDS Europe.
More recently he was senior vice president and general manager for Hewlett-Packard in Europe, Middle East and Africa in charge of thousands of people and running a multi-billion pound business.
Currently he holds non-executive roles at IT outsourcing and procurement firm Xchanging, software and web hosting business GFI Software and construction giant Balfour Beatty.
Mr Thomas also has advisory roles at Leeds University and the Cranfield School of Management and chaired the Labour Party's Small Business Taskforce.
Richard Pym, chair of the Co-op Bank board, said: "I am delighted that Bill is joining the board.
"The Co-operative Bank has a poor track record of successful IT investment and Bill's experience from working in major global IT businesses will be of enormous help to the board in supervising our IT investment programme."
The Co-op Bank is thought to have spent tens of millions of pounds on an IT system which had to be scrapped when the Project Verde deal to buy 632 branches from Lloyds Banking Group fell apart.
Co-op Bank has seen nine directors or senior executives depart since the £1.5bn hole in its capital was discovered including chairman Len Wardle, chief executive Barry Tootell and non-executives Bob Newton and Peter Harvey.
Scottish banker Niall Booker, who spent 30 years working with HSBC, is now in place as the bank's chief executive.
The Co-operative Group, headed by Edinburgh-born Euan Sutherland since May, is still finalising a rescue plan for its banking arm. That is likely to see the bank floated on the stock market in the next few months and avoid a taxpayer bailout.
However, Co-op Group will only retain 30% of the equity in the bank with the remainder going to holders of its bonds including US hedge funds Aurelius Capital Management and Silver Point Capital.
That has prompted fears of a customer exodus but the bondholders have pledged to retain the ethical ethos of the bank with Mr Sutherland saying mutual principles will be written into the constitution.