Barra steps down from Boots

LONDON — Ornella Barra will retire as CEO of The Boots Group and replace Stefano Pessina as board chair, effective February 9. Pessina will continue as a director. Barra will also continue to oversee the company’s ESG agenda as chair of The Boots Group ESG Committee.

Barra has led Boots' retail and drug wholesaling businesses since her appointment as co-chief operating officer of Walgreens Boots Alliance in 2016. She assumed the role of CEO of Boots in August following the completion of the acquisition of WBA and subsequent separation of Boots by Sycamore Partners in partnership with Pessina and his family. Barra remains a shareholder and board member of the various standalone companies that were formerly part of WBA.

With her retirement, Anthony Hemmerdinger, SVP and Managing Director, currently responsible for Boots UK, Ireland and Opticians, will assume a wider range of responsibilities, including oversight over No7 Beauty Co. and the assumption of all group level functions. He will report to the Board of Directors.

“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,” she added.

“Ornella has been a defining leader for this business, and I thank her for her dedication and impact over many years," said Pessina. "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, 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.”

Consistent with the company’s strategy upon its separation from WBA, each business within the group, including Boots, Alliance Healthcare Germany, and Farmacias Benavides, will continue to operate autonomously, reporting to The Boots Group Board, and execute its long-term strategy. This structure enables each local management team to accelerate decision-making and maximize long-term value.