The Pharmaceutical Journal
Vol 269 No 7229 p880
21/28 December 2002

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Boots Co Plc (www.boots-plc.com)

Boots seeks new senior executives

The Boots Co Plc is to change both of its most senior executives next year with the retirement of its chairman and replacement of its chief executive.

In a statement issued on 15 December, Boots chairman John McGrath confirmed that he would retire in July 2003. Mr McGrath's replacement is likely to be Sir Nigel Rudd, currently deputy chairman of Boots. He added that a successor to chief executive Steve Russell is also being sought. Mr Russell will remain in post until a new chief executive is appointed.

The move comes with the share price of Boots, frequently referred to in the press as "the struggling chemists chain", lying at around 550p, half its level of three years ago.