// Boots boss Seb James took home £3.8m in pay last year, more than double of his pay packet in 2021
// The health and beauty retailer’s pre-tax profits tripled to £137m in the year to 31 August 2022
Boots boss Seb James pocketed £3.8m in pay last year as the retailer’s profits tripled post pandemic.
Pre-tax profits for the health and beauty retailer soared to £137m in the year to 31 August 2022 across its three entities that file accounts on Companies House, up from £44.5m the year before. Sales were up almost 10% to £7.8bn.
The chief executive took home £1.9m in fixed pay last year as well as £1.8m in long-term bonuses and £100,000 in pension payments – more than double of his £1.5m pay packet the year before.
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Boots, which has over 2,000 stores nationwide, reported its eighth consecutive quarter of market share growth earlier this year.
The retailer posted sales surged 16% in the three months to 28 February 2023 thanks to strong performance in its beauty category and an influx of shoppers returning to stores.
In March, it was reported Boots could be sold or floated before the end of this year as its US parent company’s executives face increasing pressure to break up the global pharmacy giant.
This would be the second attempt by Walgreens to sell off the retailer following its abandoned £5bn sale in 2022.
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