Boots confirms Richard Baker as chief exec
Asda boss takes up challenging role In September
May 1 2003
Boots has confirmed that Asda chief operating officer Richard Baker will take over as Boots chief executive later this year.
Baker will take up the challenge of revitalising the UK health and beauty retailer from September 15. Current chief executive Steve Russell willl leave Boots at the end of this month, with chairman John McGrath taking up the role of acting chief executive until Baker arrives.
As previously indicated by the company, deputy chairman Sir Nigel Rudd is to replace McGrath as chairman, also from September 15.
McGrath said: “We have been looking for the right person to accelerate strategic change at Boots. I believe that with Sir Nigel Rudd as chairman and Richard Baker as chief executive we have an excellent combination of skills to lead our strong new executive team. Richard has an outstanding track record in both retail and marketing and I am very pleased to welcome him to Boots.
“I would also like to thank Steve Russell for his tremendous contribution to the company during his 36 years’ service and in particular his support over the last few months. He leaves the company much changed for the better and the improving trend in recent sales performance is a testament to his hard work.”
During Baker’s career at Asda he has been a key member of the management team during a period when Asda has grown its share of the highly competitive grocery sector, as well as successfully increasing its range of health and beauty products in competition with Boots. Before joining Asda in 1995, he worked at Mars in roles including head of sales for UK multiples.
Baker said: “I am delighted to be joining Boots, it is one of the most trusted brands in the country with a great team of people, tremendous customer loyalty and strong positions in growth markets. I am looking forward to working with my new colleagues to deliver a successful future for Boots.”
