Andy Hornby steps down from Boots

Andy Hornby, the man in charge of HBOS bank when it was rescued by Lloyds Banking Group, has resigned as chief executive of Alliance Boots.

After what Mr Hornby called “an intense five years” as boss of first HBOS and then Boots, he said he had decided to take “a few months’ break”.

Boots said it would begin its search for a successor “in due course”.

The chairman of the group, Stefano Pessina, praised Mr Hornby’s “wealth of retail and marketing experience”.