Seb James stepping down as Boots managing director

1st Jul 2024 10:51

(Sharecast News) - Walgreens Boots Alliance announced on Monday that Sebastian James, managing director of Boots, had decided to leave the company to pursue a new role in the healthcare sector.

The Nasdaq-listed pharmacy, health and beauty retail giant said James, along with Ornella Barra and the Boots senior leadership team, had helped to transform Boots into the UK's leading health and beauty retailer.

It noted that the chain had experienced 13 consecutive quarters of retail market share growth, with recent strong third-quarter results in June showing growth across all categories.

The news came amid recent market rumours that Walgreens had again put plans to sell the Boots business on hold, having confirmed in May it was keen to talk to potential suitors.

"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," said Ornella Barra, chief operating officer international at Walgreens Boots Alliance.

"His tenure has seen the company transform through a steadfast focus on investment, innovation and growth into the number one 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."

The company said that since his appointment in 2018, James had revitalised the Boots beauty business, introducing hundreds of new brands, renovating stores, and hiring more specialist beauty advisors.

Additionally, under his leadership, Boots had expanded its services, offering over 160 healthcare services for both private and NHS patients, reinforcing its position as the UK's largest pharmacy and a leading healthcare provider.

James would remain with Boots until November as the company started the recruitment process for a new managing director.

"It has been a pleasure to lead this fantastic company and support its transformation during my time as managing director," Sebastian James added.

"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."

At 0515 EDT (1015 BST), shares in Walgreens Boots Alliance were up 0.29% in premarket trading on the Nasdaq, at $12.13.

Reporting by Josh White for Sharecast.com.