Ken Towle has been appointed as Nisa’s new CEO and takes up the position with immediate effect.
He replaces interim CEO Arnu Misra, who smoothly steered the symbol group through its takeover by the Co-op. Misra will remain in the business for a transitional period.
Towle spent 30 years with Tesco, rising from Retail Management Trainee to become Managing Director for Central Europe, Ireland and Turkey, with stints as CEO for the mult’s China operation and as Internet Retailing Director along the way.
He left the company in 2015, spending two years as Senior Advisor with the Boston Consulting Group, before taking up his most recent post as President Fashion & Teens at MH Alshaya, a Kuwait-based multinational retail franchise operator.
Towle’s appointment follows approval of the takeover by the CMA and a final nod from the Court.
Commenting on the appointment, Jo Whitfield, Chief Executive Officer, Co-op Retail, said: “I’m delighted that Ken will lead the business for us and would like to thank Arnu for the work he has done alongside the Nisa Executive team to make this acquisition such a success and we appreciate his support as we transition.”
Whitfield added that the takeover – which will see the Co-op’s own-label products in Nisa stores – would give Nisa Partners “a wholesale operation of scale, allowing them the flexibility to trade their businesses in the way they choose, whilst benefiting from competitive prices and promotions on an industry-leading own-brand.”