Hornby appointed Boots CEO

Andy Hornby, former CEO of HBOS, has been appointed chief executive of KKR's Alliance Boots.

The move has proven controversial, as the man blamed for much of the lead up to the recession has been compensated with another high-paying and high-profile position. Hornby was CEO of HBOS for two years until Lloyds TSB took over the beleaguered company last September. HBOS has since reported losses of £10.8bn for 2008.

Alliance Boots was taken private nearly two years ago at the top of the market by KKR for £11.1bn. Executive chairman Stefano Pessina, who retains his position at the company, has been cited as saying that Hornby's appointment will allow him to dedicate "more time and energy to the development and growth of Alliance Boots."

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Industry
• UK / Ireland