Nisa Retail Limited Appoints Neil Ashworth and Arnu Misra as Independent Non-Executive Directors

The board of Nisa Retail Limited (Nisa) is pleased to announce the appointment of Neil Ashworth and Arnu Misra as Independent Non-Executive Directors (INEDs)*. The appointments follow a comprehensive search process undertaken by leading search firm Korn Ferry.

The two new INEDs are highly experienced businessmen, with extensive retail and distribution experience that is expected to be of significant value to Nisa as it continues to grow and become the partner of choice for all wholesalers and independent retailers.

Neil is CEO of Collect+, the largest independent store-based parcel services in the UK. He also has his own consultancy, specialising in the retail and logistics sectors. Neil, the immediate past Chairman of the Chartered Institute of Logistics and Transport, brings to Nisa a wealth of both retail and logistics experience. He has held executive positions at Tesco, the Co-op and Woolworths in a variety of senior retail and logistics roles. 

Arnu is a highly-experienced retail executive, having held significant senior executive roles at Matalan, Asda, and Loblaw’s in Canada. He also spent six years as CEO of private equity backed Cannons Health, doubling its membership base before selling to Nuffield Health. He has strong track record developing value for stakeholders and is highly experienced working with low cost business operating models.

Commenting on the new appointments, Nisa Chairman Peter Hartley said:“All of Nisa’s board members welcome Neil and Arnu and look forward to working with them during an exciting time for the company. The management team has done an excellent job stabilising the business in the last financial year and we are now building on this.”

CEO of Nisa, Nick Read added:“I am delighted that Neil and Arnu are joining the board at this important time in our journey. As we move from stabilisation into growth, and execute our three-year strategy, the experience of both Neil and Arnu will add greatly to this process. Nisa has enjoyed a positive start to the busy year-end period, with the recent announcement of significant retailer recruitment, and I am pleased to now be reporting the strengthening of the Nisa board too.”

Nisa recently announced contract wins with Bourne Leisure and McColl’s Retail Group, recruiting a further 334 retailers to Nisa.  Nisa announced a positive trading update for the half year to 2 October 2016, with H1 profit before tax of £1m.

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