// Boots UK non-executive chair Elizabeth Fagan steps down after two years
// She was the first UK chair for the health and beauty retailer
// Her departure comes amid privatisation rumours for parent company Walgreens Boots Alliance
Boots’ first UK chair Elizabeth Fagan has reportedly stepped down, fuelling speculation that its parent company may be taken private.
According to Insider Media, Fagan stepped down as Boots non-executive chair to pursue a broader non-executive portfolio.
She has been in the role since September 2018, although her career with Boots stretches back to 1983 when she joined as group buyer.
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She held that role until 1991, but then returned again to Boots in 2006.
Since then she worked in a variety of senior roles, such as marketing director, Boots Opticians managing director, and Boots UK & Ireland managing director before being appointed non-executive chair in 2018.
“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,” Boots said in a statement.
“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.”
Fagan’s departure comes amid speculation that Boots parent company Walgreens Boots Alliance is considering taking the company private after holding talks with private equity groups.
Walgreens Boots Alliance drafted in Evercore Partners at the tail end of 2019 to examine whether a deal can be agreed.
The company has since reportedly been approached by private equity firm KKR in what could be the largest leveraged buyout on record.