Boots CFO Michael Snape exits

Sophie Smith

06 June 2023

Boots Chief Financial Officer Michael Snape has stepped down after five years at the business.

Snape is understood to have resigned last month and will be replaced by existing Boots finance executive Sam Hunter, according to Sky News.

In a statement, Boots said: "After almost five successful years at Boots, Michael Snape, Chief Financial Officer, Boots & No7 Beauty Company, has decided to leave the business.

"During his time at Boots, Michael played a key role in successfully transforming Boots and we wish him all the best for the future and in his next role."

Snape joined Boots as CFO in 2018. Prior to this, he served as CFO International at Tesco. He has also previously worked for Waitrose and Sainsbury's in various strategic roles.

The news follows the latest financial results from Walgreens Boots Alliance, which reported a 3.3% increase in sales to £28 billion ($34.9 billion) for the second quarter ending 28 February 2023.

Footfall at Boots improved by 16%, as ecommerce continued to "perform well", accounting for over 15% of retail sales against approximately 9% pre-pandemic.