Nisa appoints interim CEO

Arnu Misra takes the helm as half year trading report shows sales on the up

Nisa has appointed an interim CEO as members await an offer from The Co-op

NISA has appointed an interim chief executive following the departure of Nick Read earlier this month.

Arnu Misra takes up the mantle as members of the buying group await a likely acquisition offer from The Co-Op.

Misra has been a non-executive director at Nisa since November 2016 and has previous senior executive experience with Matalan, Asda and Loblaw’s in Canada.

Commenting on his new role, Misra said: “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.”

Misra’a appointment coincided with the release of Nisa’s half year trading update. Nisa’s figures show total sales for the 26 weeks to 1 October of £728m, up 12.4% on last year.

Commenting on the half year results, 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.”