Boots chief quits after Walgreens' sale plan stalls
What stalled Walgreens' sale or listing plans for Boots?
Walgreens' sale or listing plans for Boots stalled due to a combination of factors, including the company's decision to continue investing in the business, a lack of suitable offers meeting their asking price, and ongoing market challenges. The company had initially planned to sell or list Boots but decided against it after a strategic review of its assets.
What are Walgreens' future plans for Boots?
Walgreens has decided to keep its Boots and No7 Beauty Company businesses under its existing ownership and focus on their further growth and profitability5. This decision was made due to market instability impacting financing availability and no third party offering an adequate value for the businesses. Walgreens will continue investing in the future of Boots and No7 Beauty Company, as they believe in their strong fundamental value and potential for future opportunities in the healthcare and beauty markets5.
Why is the Boots chief quitting?
The Boots chief, Sebastian James, is quitting because the U.S. owner, Walgreens Boots Alliance's, plans for a sale or stock market listing of the chain stalled. James will remain in the post until November before taking up a new role in the healthcare industry.