Boots managing director Sebastian James is stepping down to pursue a new as yet unknown role in the healthcare sector, according to Market Watch.
James’ departure follows a stalled plan for the sale or stock market listing of the chain Boots, the British health and beauty arm of retail giant Walgreens Boots Alliance.
James, who has run Boots since 2018, will remain in the post until November before taking up a new role elsewhere, Reuters reported.
Walgreens did not respond to a request for comment. Sky News first reported James’ exit.
Last week, during an earnings call, Walgreens said it plans to close a “significant number” of its underperforming U.S. retail locations amid what it described as an extremely challenging operating environment. The retailer also stated that it had no plans to sell Boots, having decided to continue to invest in the brand.