Richard Baker (British businessman, born 1962)
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Richard Baker | |
---|---|
Born | 6 August 1962 |
Nationality | British |
Alma mater | Downing College, Cambridge |
Occupation | Businessman |
Richard Baker (born 6 August 1962) was CEO of Boots Group from 2003 to 2007. He has since served on a number of executive boards and launched private equity firm BD-Capital.[1]
Early life and education
[edit]Baker graduated from Downing College, Cambridge.[citation needed]
Career
[edit]Baker worked at Mars Confectionery for nearly 10 years, working his way up to sales and marketing director.[2][3] He joined Asda Stores Ltd in 1995,[4] where he worked for nine years, becoming Marketing Director in 1999,[5] and ultimately chief operating officer in 2002, following their acquisition by Walmart.[6]
In September 2003, Baker joined Boots Group as chief executive officer.[7] The company had been reporting losses following its ill-advised move into its 'Wellbeing' services.[8][9] Despite implementing a number of cost-cutting measures and extending opening hours, the company continued to struggle until October 2005 it announced it was to merge with competitor Alliance Unichem.[10] The announcement met with widespread opposition, but the merger was cleared by the OFT in February 2006 and completed in July that year.[11][12] Baker became chief executive officer of the new Alliance Boots GmbH.[13]
In April 2007, after publishing annual results that showed a profit increase of 7.4%, Alliance Boots was sold to private equity firm KKR for £11.1 billion; the highest price ever paid by a private equity company for a British public company.[14][15] Baker left the company on completion of the transaction.[16]
From 2008 to 2014, Baker served as non-executive chairman of Virgin Active.[17] From 2009 to 2017, he served as chairman of the European Division of Groupe Aeroplan.[18][19] From 2010 to 2018, he served as chairman of DFS.[20] From 2014 to 2018, he served as non-executive director of Whitbread.[21][22]
In June 2019, Baker launched his own private equity firm, BD-Capital.[1]
References
[edit]- ^ a b Walsh, Dominic (13 June 2019). "Richard Baker puts his dough in private equity". The Times. ISSN 0140-0460. Retrieved 13 June 2019.
- ^ Ryle, Sarah (4 May 2003), "How the Martians took over UK retail", The Observer, London, retrieved 27 January 2010
- ^ "Baker makes tough decisions as he seeks catalyst for high street chemist's renewal", Sunday Herald, 4 September 2005, retrieved 27 January 2010
- ^ Cope, Nigel (1 May 2003), "Boots shops at Asda for new chief executive", The Independent, London, archived from the original on 6 September 2010, retrieved 27 January 2010
- ^ "How the Wal-Mart deal will boost Asda", Marketing Week, 17 June 1999, retrieved 12 February 2021
- ^ "DeNunzio takes reins at Asda", Mass Market Retailers, 21 October 2002, retrieved 27 January 2010
- ^ Cope, Nigel (2 May 2003), "Chemist's chain greets new chief with a £1.6m hello", The Independent, London, retrieved 27 January 2010[dead link]
- ^ "Wellbeing proves a little too painful for Boots", Evening Standard, 27 March 2003, retrieved 27 January 2010[dead link]
- ^ "Boots to cut 700 jobs from Wellbeing stores", The Telegraph, London, 27 March 2003, retrieved 27 January 2010
- ^ Rankine, Kate (3 October 2005), "Shareholders blast Boots over merger", The Telegraph, London, retrieved 27 January 2010
- ^ Townsend, Abigail (2 July 2006), "Boots to get green light on £7bn Alliance deal", The Independent, London, retrieved 27 January 2010[dead link]
- ^ Muspratt, Caroline (31 July 2006), "UK's largest pharmacy created as Boots completes merger", The Telegraph, London, retrieved 27 January 2010
- ^ Fletcher, Richard (5 May 2007), "Profile: Richard Baker, chief executive of Alliance Boots", The Telegraph, London, retrieved 27 January 2010
- ^ Werdigier, Julia (25 April 2007), "Equity Firm Wins Bidding for a Retailer, Alliance Boots", New York Times, retrieved 27 January 2010
- ^ Jordan, Dearbail (2 May 2007), "Battle lines drawn for top job at Alliance Boots", The Times, London, retrieved 27 January 2010
- ^ "Alliance Boots chief quits post", BBC News, 11 July 2007, retrieved 27 January 2010
- ^ Conway, Edmund (28 April 2008), "Virgin Active could get new boss", The Telegraph, London, retrieved 27 January 2010
- ^ "Nectar card owner names ex Boots head Richard Baker to board", Marketing Magazine, 27 February 2009, retrieved 27 January 2010
- ^ "Richard Baker to chair Nectar company advisory board", Marketing Week, 26 February 2009, retrieved 12 February 2021
- ^ Leroux, Marcus (23 April 2010), "'Categorically not for sale' DFS goes for £500m", The Times, retrieved 13 September 2010
- ^ Sibun, Jonathan; Russell, Jonathan (5 September 2009), "Richard Baker accepts Whitbread's offer to return to City", The Telegraph, London, retrieved 27 January 2010
- ^ Lindsay, Robert (7 September 2009), "Whitbread hires ex-Boots boss as sales slide", The Times, London, retrieved 12 February 2021