Nisa’s chief executive Nick Read will be stepping down. Mr Read joined Nisa in December 2014 during a time of uncertainty for the business when it made an unexpected loss.
In July 2016 Nisa reversed the previous year’s loss with an EBITDA of £7.3 million which marked the largest annual EBITDA swing in the company’s 40-year history. In 2017 Nisa's EBITDA rose to £8.6 million while pre-tax profit was £2.8 million.
In a statement Nisa said it is currently “engaged in a succession planning process”, the result of which will be announced in due course.
Nisa chairman, Peter Hartley added: “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.”
