Nick Read has stepped down as the CEO of Nisa Retail. As a result, the Board of Nisa has engaged in a succession planning process, the result of which will be announced in due course.
Read joined Nisa in December 2014 at a very challenging time for the business, with a remit to stabilise and set out a future strategic direction for the company and its members.
He appointed Robin Brown as CFO in May 2015, and had to act quickly to implement a number of tough measures, allowing the business to regain the confidence of a wide range of stakeholders in the business.
Read said: “My time at Nisa has been both challenging and eventful, and I am proud of our collective success in turning the business round. The return to profitable growth was key to creating the confidence that enabled a sustainable business model for the benefit of all Nisa members. I am grateful for all the support I have received from colleagues and members.”
Nisa chairman Peter Hartley, commented: “We are grateful to Nick for his leadership during a challenging period for Nisa and the wider convenience sector. Nick and his team have brought much needed stability to Nisa, and he will leave the business in a significantly improved financial position.”