Baker walks, as Pessina becomes Boots chairman(2)

The chief executive of Alliance Boots, the Kohlberg Kravis Roberts portfolio company, has quit his position at the company after Stefano Pessina assumed the position of executive chairman.

Richard Baker has quit Alliance Boots, where he was chief executive, a month after the US buyout firm Kohlberg Kravis Roberts portfolio company assumed possession of the company.

Stefano Pessina, Boots deputy chairman, who took part in the £11 billion buyout has been appointed chairman of the company

“Baker has decided to leave the business after discussing the option of continuing in a role as chief executive. He has elected to pursue his career elsewhere, recognising Stefano Pessina’s new position as executive chairman,” Boots said in a statement. 

Scott Wheway, managing director of Boots the Chemist, has also decided not to accept a position in the new business. Alex Gourlay, healthcare director, will take over his role.

Dominic Murphy and Ornella Barra, from KKR have been appointed to the board as directors along with Boots employees George Fairweather, Steve Duncan, and Marco Pagni.