Nisa names caretaker boss

Nisa lorries

Nisa has appointed Arnu Misra as interim CEO, following the sudden departure of Nick Read on September 29.

Misra, an Independent Non-Executive Director at Nisa since November 2016, has held previous senior executive roles at Matalan, Asda and Canadian supermarket chain Loblaw’s.

The appointment came as Nisa reported positive half-year trading figures, with total sales up 12.4% year-on-year to £728m for the 26 weeks to October 1, 2017.

Non-tobacco sales rose 0.8% on a like for like basis to £505m. Recent changes in tobacco legislation hasn’t affected Nisa as much as other suppliers, with sales falling by only 2.7%. Core retail trade showed like for likes of +1.9%.

Nisa said the sales were driven by strong growth in new stores and new Member recruitment, with 409 new stores in H1, compared to 188 last year with net new at +284 (last year -110).

Commenting on the half year results and interim CEO announcement, Nisa Chairman Peter Hartley said: “I am pleased to report strong trading in the first six months of the year. We have continued to serve our existing Members well, and as a result new Member recruitment has shown significant gains. We are delighted to have Arnu as interim CEO; he has a wealth of retail experience and is ideally placed to lead Nisa as we seek to optimise the service, benefits and opportunities we can bring our Members.”

Arnu Misra, interim CEO of Nisa, added: “I am pleased to be leading Nisa at a time of great change for the convenience sector as top-up shopping continues to increase. I have spent many years working in the retail industry and am looking forward to drawing on this experience to provide Nisa Members with an exceptional value proposition that delivers for their customers.”