(Reuters) – The CEO of Boots, a British health and beauty retailer, is stepping down as plans for a sale or stock market listing of the chain by U.S. owner Walgreens Boots Alliance (NASDAQ:) have stalled, according to a source familiar with the situation.
Sebastian James, who has been at the helm of Boots since 2018, will continue in his role until November before moving on to a new position elsewhere, the source told Reuters.
Walgreens did not respond to Reuters’ request for comment outside of business hours.
Sky News initially reported James’ departure, stating that he will be taking on a role in the healthcare industry.
On Thursday, Walgreens issued a warning about its profit forecast and stated that there are no current plans to sell Boots, opting instead to continue investing in the chain.
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