Boots Group CEO Ornella Barra is retiring from the post to become chair of the board.
She will replace Stefano Pessina, who is stepping down as chair and will continue as a director.
Barra has led the group of the business since 2016. She assumed the role of Boots Group CEO in August last year following the completion of the acquisition of WBA and subsequent separation of The Boots Group by Sycamore Partners in partnership with Pessina and his family. As chair she will continue to oversee the company’s ESG agenda.
Her retirement will involve Boots UK, Ireland and Opticians senior VP and MD Anthony Hemmerdinger assuming a wider range of responsibilities, including oversight of No7 Beauty Company.
Consistent with the company’s strategy upon its separation from WBA, each business within the group will continue to operate autonomously while reporting to the board, enabling local management teams to accelerate decision-making.
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“For some time now, I have been considering transitioning to a less operational role,” said Barra. “I concluded that this is the perfect moment and the right choice for me to best serve the company moving forward.
“The Boots Group is in great shape, both financially and operationally, with Boots UK having grown market share for 19 consecutive quarters, and has strong leadership teams in place across all of its businesses.
“In partnership with Sycamore, I am confident that Boots, No7 Beauty Company, and all of the businesses across the Boots Group will continue to flourish and unlock their full potential.”
Pessina said: “Ornella has been a defining leader for this business, and I thank her for her dedication and impact over many years. Our family remains fully committed to the Boots Group, and we have great confidence in Anthony and the management teams as the company continues to move forward.”
Sycamore Partners MD Stefan Kaluzny said: “Ornella’s leadership was instrumental in establishing the Boots Group as a strong, independent company. We appreciate her many contributions and look forward to continuing our partnership with her and Stefano.”
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