Former Tesco China boss Ken Towle has taken the helm at Nisa, becoming CEO after completing its merger with Co-op.
Towle replaces interim CEO Arnu Misra, having worked as chief executive of Tesco in China during a 30 year career with Britain’s largest retailer.
In 2015 Ken left Tesco and moved to The Boston Consulting Group as a senior advisor before joining Alshaya, the multinational retail franchise operator that is headquartered in Kuwait.
Speaking on the merger and appointment of Towle, Jo Whitfield, CEO of Co-op Retail said: “This is exciting news. Co-op and Nisa have all the ingredients for a successful partnership, which will include the offer of award-winning Co-op own brand products. It will give Nisa Partners a wholesale operation of scale, allowing them the flexibility to trade their businesses in the way they choose, whilst benefiting competitive prices and promotions on an industry leading own brand.
“Our strategy is to get our award-winning own brand product closer to communities and our new business will create an exciting product offer for Nisa Partners to engage their shoppers with across the UK.
“I’m delighted that Ken will lead the business for us and would like to thank Arnu for the work he has done alongside the Nisa Executive team to make this acquisition such a success and we appreciate his support as we transition.”
The merger follows approval by the Competition and Markets Authority on Monday 23 April and the Court’s decision to sanction the transaction on Friday 4 May.
Both brands will remain as they are, and they will also continue to set their own prices and products in store. The company says the move will give them combined buying synergies bringing the benefit of competitive prices and promotions for Nisa.
No comments yet