Ex-Boots Director steps down from THG board

THG, the owner of MyProtein and Cult Beauty, has announced that Non-Executive Director Dominic Murphy will be stepping down form the Board with immediate effect.

In 2007 Murphy led the £12 billion takeover of Boots when he was a partner at US giant KKR. He is also the co-head of UK investments at private equity giant CVC, which earlier this year made a bid for Boots but pulled out of the race.

From 2007 until 2015, Murphy served on the board of directors of Walgreens Boots Alliance.

The Board is now looking to search for a suitable additional independent Non-Executive Directors. Murphy currently holds a 1.2% stake in THG, worth approximately £20.2 million.

Murphy commented: "It has been nearly 8 years since I joined the Board of THG, during which time I have had the privilege to witness the Group's journey through a period of profound transformational growth. Considering the length of my tenure, I feel that now is the right time to step down as an independent non-executive Director of THG."

Matthew Moulding, CEO added: "Dominic has brought a wealth of experience to the Board and I would like to sincerely thank him for his invaluable contribution to THG over its transformational journey during his tenure. We wish Dominic the very best for the future"