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Sebastian James, the CEO of British health and beauty retailer Boots, is set to step down after U.S. owner Walgreens Boots Alliance’s plans for a sale or stock market listing of the chain stalled.
James, who has been at the helm since 2018, will remain in his position until November before moving to a new role in the healthcare industry.
A source familiar with the situation confirmed to Reuters that James would leave his post later this year.
Although Walgreens did not respond to requests for comment outside business hours, Sky News reported James’ departure, noting his move to a healthcare industry role.
Since becoming CEO in 2018, Sebastian James has overseen several significant developments at Boots. His leadership period has seen efforts to modernize the chain and improve its market positioning.
The announcement of James’ departure and the stalled plans for Boots’ sale or listing come when Walgreens navigates a challenging business environment. The company’s recent profit outlook warning adds to the uncertainty surrounding its future strategies.
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