The Chief Financial Officer (CFO) of Boots has stepped down one year after the company’s US parent abandoned its sales plans.
Michael Snape, who served as CFO for nearly five years, resigned last month from the Nottingham-based company. His position will be filled by Sam Hunter, an existing finance executive at Boots.
It remains unclear whether Snape, who joined the chain in 2018 from Tesco, has secured another job opportunity.
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A spokesperson for Boots said Snape played a crucial role in the successful transformation of the company and wished him well in his future endeavors.
In June of the previous year, Walgreens Boots Alliance terminated discussions with potential buyers after months of negotiations.
However, many insiders in the retail industry anticipate the sale process will be revisited by the health and wellbeing giant, listed in New York, within the next 18 months.
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Boots currently operates over 2,200 stores in the UK, but this figure is expected to decrease as the company reevaluates its physical store portfolio.
In the last full financial year ending on August 31, 2022, the company reported a nearly tripled pre-tax profit of £137 million as its business rebounded following the final COVID-19 lockdown in the UK.
