Nisa plumps for the convenience of a non-exec as new interim boss

Oliver Gill
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Convenience store Nisa today announced the former head of Cannons gyms as its new interim boss.

Arnu Misra, previously one of Nisa's non-exec directors, will take over Nick Read, who stepped down last Saturday.

The announcement came as Nisa reported 0.8 per cent growth in half-year like-for-like sales to £505m. Such figures included tobacco sales falling 2.7 per cent.

Misra ran Cannons prior to the gym's sale to Nuffield Health, doubling the chain's membership base.

He has also previously held senior executive roles at Matalan and Asda. In a statement this lunchtime, Nisa said Misra "is highly experienced working with low-cost business operating models".

Read more: Nisa confirms chief exec is to step down as Co-op takeover talks continue

The convenience store entered exclusive talks with Co-op at the end of August over the sale of its wholesale operations. Co-op snuck in after Sainsbury's halted talks to await the outcome of a competition probe into Tesco's takeover of wholesaler Booker.

Nick Read announced he was to quit as chief exec last week after spending three years returning Nisa to profitability.

Today, 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."

Read more: Co-op back in the picture as Sainsbury's holds off on Nisa takeover

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