Getting the Boot

12 December 2002 By Camilla Palladino

CEO Steve Russell may be getting the boot early, having unsuccesfully chased growth. But running the UK chemist for cash isn’t that interesting an option either.

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Boots has appointed headhunters to find a replacement for its chief executive, Steve Russell, according to press reports. The health and beauty retailer faces a number of strategic challenges. Its upmarket cosmetics venture, Pure Beauty, was trialled in six stores. Plans to expand the format to 65 stores seem to have been dropped. Meanwhile, Boots's Wellbeing venture, where the retailer offers services like dentistry, opticians and chiropody, reported a loss of £16m in the first half of the year.

Boots also faces a review from the Office of Fair Trade, which is due to publish a report in midDecember. The OFT may recommend that licences for pharmacies be liberalised. This could expose Boots to more competition from supermarkets.

Getting the Boot

12 December 2002 By Camilla Palladino

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