The Boots Group CEO Ornella Barra is retiring from her role and will move into the position of Chair, effective 9 February.
She will replace Stefano Pessina as Chair of the board of directors of The Boots Group, continuing to oversee the company’s ESG agenda, with Pessina staying on as Director.
Barra’s role as CEO will not be directly filled, according to a company statement.
Anthony Hemmerdinger, currently Managing Director of Boots UK, Ireland and Opticians, will instead “assume a wider range of responsibilities”.
This will include oversight of No7 Beauty Company and “the assumption of all group-level functions”, reporting into the board of directors.
Boots began operating as a “standalone company” last year following the acquisition of its parent company, Walgreens Boots Alliance (WBA), by private equity firm Sycamore Partners.
Sycamore Partners completed the deal to buy the UK health and beauty retail chain in partnership with Pessina and his family, which reinvested 100% of their interests into The Boots Group.
“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 Partners, 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 the business.
He continued: “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.”
Stefan Kaluzny, Managing Director of Sycamore Partners, commented that Barra’s leadership was “instrumental” in establishing The Boots Group “as a strong, independent company”.
He added: “We appreciate her many contributions and look forward to continuing our partnership with her and Stefano.”