Boots boss set to leave as owner shelves £5bn sale for second time

Sebastian James, the boss of Nottingham-based Boots, is set to leave the company.

James is leaving to run Veonet, one of Europe’s largest chains of ophthalmology clinics, according to reports from Sky News.

Industry sources say Jmaes will leave Boots in November to move to Veonet, which owned by private equity firm PAI Partners and Canadian Ontario Teachers Pension Plan.

Veonet owns SpaMedica, which undertakes eye operations for the NHS.

James has been CEO at Boots, Britian’s largest pharmacy chain since 2018. He is leaving after the company’s owner Walgreen Boots Alliance (WBA), stalled once again on a £5bn sale or flotation. It is the second time in two years that plans to offload the firm has been shelved.

Last week, WBA released strong figures for Boots, with sales for the 13 weeks to the end of May up by 6% and 5.8% at its retail and pharmacy businesses respectively.

A WBA spokesperson said: “As Walgreens Boots Alliance continues a strategic review of the Company’s assets, we took a critical look at Boots.

“While we believe there is significant interest in this business at the right time, Boots’ growth, strategic strength and cashflow remain key contributors to Walgreens Boots Alliance.

“We are committed to continuing to invest in Boots UK and to find innovative ways for this business to fulfill its potential.”