Boots CEO Sebastian James to Step Down Amid Ownership Uncertainty
The chief executive of Boots, Britain’s largest high street pharmacy chain, Sebastian James, is set to step down in November amidst uncertainty about the company’s future ownership. Sky News has learned that James, who has been at the helm of Boots since 2018, will be leaving the company as its owner, Walgreens Boots Alliance (WBA), has put plans for a £5bn sale or stock market listing on hold.
City sources have revealed that James has accepted a new role in the healthcare industry, marking the end of his tenure at Boots. This news comes after WBA decided for the second time in two years against pursuing a sale or flotation of the chain. An official announcement regarding James’s departure is expected in the coming days, with no successor lined up yet.
Boots, which is celebrating its 175th year, employs around 52,000 people and operates approximately 1,900 stores. Despite recent strong trading performance, with like-for-like sales rising by 6% in the retail sector and 5.8% in the pharmacy sector, WBA has faced challenges, leading to a strategic review of its assets.
The departure of James, who previously led Dixons (now Currys), will mark a significant change for Boots during a pivotal time in its history. Stay tuned for more updates on this developing story.
