Boots’ first UK chair Elizabeth Fagan has stepped down from the retailer after less than two years in the role.
Fagan, who has been non-executive chair since September 2018, has stepped down to pursue a broader non-executive portfolio, according to Insider Media.
Her departure comes amid speculation that Walgreens Boots Alliance owner Stefano Pessina is considering taking the company private, and has reportedly been approached by private equity firm KKR in what could be the largest leveraged buyout on record.
Fagan steps down after a long career Boots, having first joined as a group buyer in 1983, a role she held until 1991.
She then returned to Boots in 2006 and held a variety of roles from marketing director to managing director of Boots Opticians, culminating as UK and Ireland managing director before becoming non-executive chair in 2018.
A statement from Boots said: “Elizabeth leaves with warm thanks for her significant contribution to the company over her long tenure, during which she held a number of roles with increasing responsibility.
“On Seb James’ appointment to lead Boots in 2018, Elizabeth became non-executive chair, where she continued to push forward the evolution of the Nottingham Enterprise Zone focusing on local innovation and economic growth, while also continuing to drive positive change in and for the communities of Nottingham through our many CSR initiatives.
“Throughout her time with Boots, Elizabeth has delivered a number of strategic partnerships, including the award-winning and highly respected relationship with Macmillan Cancer Support, that truly engaged and benefitted our colleagues, customers and communities at large.”
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