Boots Chief Quits After Walgreens’ Sale Plan Stalls


The boss of British health and beauty retailer Boots is quitting after U.S. owner Walgreens Boots Alliance’s plans for a sale or stock market listing of the chain stalled, according to a person with knowledge of the situation.

Sebastian James, who has run Boots since 2018, will remain in the post until November before taking up a new role elsewhere, the person told Reuters.

Walgreens did not respond to Reuters’ request for comment outside business hours.

Sky News first reported James’ exit, saying he had taken a role in the healthcare industry.

On Thursday, Walgreens warned on its profit outlook and said it had no plans to sell Boots, having decided to continue to invest in it.

Learn more:

How Prestige Beauty Brands Can Stay on Top

If aspirational customers keep pulling back from discretionary spending, only the luxury shopper will be left to snap up pricier products. But high-net-worth shoppers crave a different kind of retail experience.

Source link

About The Author

Scroll to Top