By  on February 1, 2008

Boots Retail International said Thursday that Martin Waters, the company's chief executive officer, is stepping down.

Waters, who will remain with the organization through Feb. 14, is believed to be taking a new business position in the U.S. He was not available for comment Thursday.

While a successor to Waters has not yet been named, the company said Kevan Quantock, vice president of Business Development, will lead the Boots business in North America in the interim. Quantock has spent more than 15 years with the company, with a particular focus on international development over the last eight years. He is said to have also been instrumental in establishing relationships with Target and CVS to sell the leading British brand's products in the U.S.

Boots products, which hit U.S. shores in 2004, are sold in more than 1,500 Target stores — including 260 doors that feature Boots-trained beauty consultants — and 500 CVS stores.

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