Boots chief to depart after sale plans shelved

Boots managing director Sebastien James is set to quit his role after its owner shelved plans to sell the retailer.

James, who has led the company since 2018, is set to leave the company in November and take up a role at Veonet, according to reports from Sky News.

Ornella Barra, COO International at Walgreens Boots Alliance, said: “On behalf of all
colleagues at WBA and Boots, I would like to thank Seb for his role in the success of the business over the past years.

“His tenure has seen the company transform through a steadfast focus on investment, innovation and growth into the No.1 health and beauty destination in the UK. We thank Sebastian for his commitment – together with the Boots leadership team – to delivering a strong platform for success and sustainable, long-term growth, and wish him all the best for his next endeavour.”

James added: “It has been a pleasure to lead this fantastic company and support its transformation during my time as Managing Director. Now in its 175th year, Boots has shaped how people access health and beauty products on the high street and I am proud to have been part of a business that continues to hold a critical role at the centre of the UK health and beauty sectors. I look forward to seeing the business continue to succeed under its excellent leadership team.”

His exit comes after WBA decided for the second time in two years against pursuing a sale or stock market flotation of the chain.

It comes after James had overseen a successful turnaround of the business, with market share having grown for 13 successive quarters.

It also saw its like-for-like rise by 6% and 5.8% across its retail and pharmacy operations respectively, for the three months ended 31 May 2024.