The chairman of Nisa Retail Limited has indicated he would not seek re-election at the company’s next annual general meeting.
Christopher Baker announced his resignation, saying he will officially step down at the conclusion of the next AGM on September 29.
Baker was first appointed to the role in January 2013. Replacing him as interim non-executive chairman designate will be Peter Harley, who has been part of the Nisa board since December 2012.
Nisa states that the process for the appointment of a new non-executive chairman will be announced at the at the AGM.
As chairman of Nisa, Baker was professionalised the work of the board and recruited the new executive management team in 2015 which embarked on a turnaround strategy.
In July 2016, Nisa’s full year results reported a return to profitability and a significant reduction in central overhead costs.
“Nisa has now been stabilised after a challenging few years, and I am confident that the foundations are in place for it to capitalise on its potential,” Baker said.
“I have greatly enjoyed my time at Nisa, but believe the company and its members now need a new chairman with a fresh mandate from the shareholders to take the business forward, alongside the new executive management team.”
Nisa is a mutual organisation of independent retailers, operating over 4000 convenience stores and small supermarkets in the UK.