Boots boss quits after six years in charge of the high street chain

The boss of Boots has announced he will be leaving the company in November

The chief of UK's popular health and beauty chain, Boots, has revealed his plans to step down after a six-year tenure.

Sebastian James, the managing director, has tendered his resignation in order to pursue a career in the healthcare sector. Boots, which is under the ownership of the US-listed giant Walgreens Boots Alliance, confirmed that Mr James will stay with the company until November.

The company has initiated the process to find his replacement. It is thought that Mr James is departing to take up a position at a European eye surgery firm. He has held the top position at Boots in the UK since 2018, prior to which he was the head of electricals retailer Dixons, now known as Currys.

During his stint at Boots, the company witnessed 13 consecutive quarters of market share growth. However, his decision to leave coincides with rumours that Walgreens has once again halted plans to sell or float the Boots chain.

Mr James expressed: "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."

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

Boots recently reported an increase in sales for the latest quarter, despite its parent company reducing profit forecasts and announcing closures of US stores. Boots recorded a 6% rise in UK comparable retail sales over the quarter ending in May, with in-store sales seeing a boost due to increased footfall in its travel, beauty and flagship shops.

However, total sales growth decelerated to 1.6% as it was affected by store closures over the past year, having closed approximately 300 shops, reducing its store estate to 1,900 sites. Walgreens, its owner, stated in the results that it intends to close more of its underperforming US stores following a strategic review.

Walgreens also reduced its earnings per share guidance for the financial year to August, citing a "challenging US retail environment". Overall group sales rose by 2.6% to $36.4billion(£28.8billion) for the quarter to May, as stronger pharmacy sales in its US business counterbalanced a retail slump.