Nisa-Today’s has announced its separation following votes by members at the group’s AGM last week.
Franchise convenience store chain Nisa is to separate from the retail arm of the company, Today’s, following an overwhelming majority of votes by members in favour of the move.
The split follows fears that the individual operations were aiming to appeal to different markets, as Today’s deals with wholesale offerings while Nisa remains firmly involved in the retail sector.
A 50 per cent plus one majority of shareholder votes was required for the separation to go ahead.
Nisa recently announced that it is to launch a TV advertising campaign in the autumn, stepping up its marketing following successful newspaper and regional radio campaigns.
Both companies were quick to point out that the agreed transaction would not be an end to the long-running relationship between the two, as joint buying and distribution possibilities will still be pursued.
During last week’s AGM, the company also appointed four member directors to its holdings board. One existing member director, Jas Sunner, was re-elected to the board and three new candidates were newly appointed.
Speaking about the appointments, Independent Non-Executive Chairman of the group Mark Pullen said: “This year, for the first time, all directors were eligible for retirement by rotation, rather than just member directors as in previous years.
“This brings the company more in line with current governance requirements. “I would also like to welcome the three new member directors to the board and I am delighted that Jas Sunner was re-elected.
“I am sure the board will continue to work hard to help Nisa-Today’s create additional benefits for members.”
It is hoped that the newly-announced separation will allow Nisa and Today’s to tailor their individual strategies and change their resources and direction for the future success of both companies.