As Boots are to close 300 stores, what is the salary of its UK managing director Sebastian James?

Although at the time of writing it is not yet known which locations will be affected by the decision by Boots to close 300 branches throughout the UK over the next year, the BBC have said that they understand “there will be no redundancies and staff will be offered work at nearby stores. There will be 1,900 branches left across the Uk from a base of 2,200.”

It is not only Boots stores in the Uk that will be affected. The parent company of Boots, which is Walgreens Boots Alliance, will be closing 150 Walgreens branches in the US over the next year. 

The FT reported that “A year ago, Walgreens abandoned plans to sell Boots, which was expected to bring in billions of dollars, blaming instability in the financial markets.”

If Walgreens does not sell Boots, could we see the company move completely online?

Despite the news that Boots is to close 300 stores over the next year to ‘consolidate’ the business, the company has recorded growth, in particular when it comes to online sales. Sky News said that “Walgreen Boots Alliance on Tuesday reported Boots had growth of 13.4% in the third quarter of its financial year, compared to the year before, and increased market share, for the ninth consecutive three month period.

The key area of growth to note is Boots UK online sales. Sky News went on to say that “Sales on Boots.com were up 25% over a year ago and accounted for 14% of all retail sales.”

Although at present, online sales account for only 14% of all retail sales at present, could we see this increasing rapidly in the next few years and footfall decreasing? At present the footfall for Boots has increased 7% from the third quarter of the previous year to this year. 

Who is the Managing Director of Boots UK and what is his salary?

The Managing Director of Boots UK is Sebastian James, who is also the Senior Vice President, and President of Boots UK & ROI. According to Boots' own website “He leads all Boots’ businesses including Boots Opticians, both across the UK and the Republic of Ireland, with the support of Boots senior leaders.”

Sebastian James was reportedly £3.8m last year. In May, The Guardian reported that “James, a friend of the former prime minister David Cameron, is understood to be the highest-paid director at Boots, taking home £1.8m in long-term bonuses on top of £1.9m in annual pay and £100,000 in pension payments during the year. That compared with a total payout of £1.5m the year before.”

Sebastian James was educated at Eton College, famous alumni of course include former Prime Minister Boris Johnson and Prince William. Prince George could soon be set to attend the school himself as he and his parents were reportedly recently spotted on the grounds of the school.