Boots chief financial officer Michael Snape has quit his role after five years, a year after its US parent Walgreens Boots Alliance halted plans to sell the business.

Snape joined the pharmacy and beauty giant in 2018 from Tesco and will be replaced by existing Boots finance executive Sam Hunter, according to Sky News.

It is reported that Snape resigned last month and it is still unclear whether he has taken on another role elsewhere.

Last year, Walgreens abandoned talks with prospective buyers following months of negotiations as potential buyers failed to find funding. Many retail industry insiders expect the process to be revived in the next 18 months.

A Boots spokesman said: “After almost five successful years at Boots, Michael Snape, chief financial officer for Boots and 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.”