Holland & Barrett hires new executive from Boots owner

Holland & Barrett has hired a former executive from Boots owner Walgreens Boots Alliance as executive chairman, weeks after Letterone cemented its hold over the healthcare chain. Alex Gourlay left Walgreens where he was vice president and co-chief operating officer in May 2021.

The appointment comes after Mr Gourlay announced his intention to join the board of Holland & Barrett backer Letterone last month.

Letterone late last year shored up its control over Holland & Barrett after it bought back 99pc of £895m of debt from lenders at a discount after a spate of sanctions on its two Russian co-founders, who subsequently stepped down. Letterone is not subject to sanctions.