Boots CEO Ornella Barra steps down to become Chair

Boots Group has carried out a senior management reshuffle that will see Ornella Barra step back from her role as Group Chief Executive and move into the position of Chair, replacing her husband and long-time business partner, Stefano Pessina.

Barra’s executive role will not be directly filled, according The Financial Times. Instead, Anthony Hemmerdinger, currently Managing Director of Boots UK, Ireland and Opticians, will take on broader responsibilities, including oversight of No7 Beauty Company.

The changes follow Walgreens Boots Alliance’s take-private deal last year, led by US private equity firm Sycamore Partners alongside Pessina.

Since the acquisition, Sycamore has split the group into five separate businesses, formally separating Boots from Walgreens’ US retail operations.

A person familiar with the matter told the Financial Times that the reshuffle could pave the way for Boots to be separated further from its parent company and potentially return to the London stock market in the coming years, after earlier attempts to sell the chain failed.

In a statement, Barra said: "For some time now, I have been considering transitioning to a less operational role.

"I concluded that this is the perfect moment and the right choice for me to best serve the company moving forward."

She will continue to chair the group’s environmental, social and governance committee and remain a shareholder. The changes will take effect next month.