Boots MD quits after Walgreens shelves listing plans

(Source: Walgreens Boots Alliance)

Boots MD Sebastian James is resigning after American parent company Walgreens Boots Alliance has reportedly postponed its plans for a sale or stock market listing, Reuters reported, citing a source privy to the matter.

James started his career at Boots in 2018 and will remain at the company until November before taking up a new appointment.

Earlier last month, Bloomberg News reported that Walgreens Boots Alliance was pursuing “informal talks with potential buyers” for Boots.

The report added that the parties have not yet reached an agreement on Boots’ future ownership.

In its fiscal third-quarter report, Walgreens Boots Alliance said it is finalizing its plans to close underperforming US stores despite its net earnings surging 191.5 per cent year over year to $344 million while sales increased 2.6 per cent to $36.35 billion.

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