HEALTH and beauty chain Alliance Boots has announced the shock resignation of boss Andy Hornby after less than two years in the role.
Hornby, who gained notoriety as the head of Halifax Bank of Scotland before its near-collapse and rescue by Lloyds TSB, has stepped down with immediate effect, according to the firm.
He said his decision follows an “intense last five years” and he would take a few months’ break.
Boots executive chairman Stefano Pessina will take on his role while the firm searches for a replacement.
Yesterday’s news marks an apparent blow to Hornby’s career, which appeared to be back on track after his appointment as chief executive of Boots so soon after his disastrous stint at HBOS.
He was one of a number of disgraced bankers who received a very public mauling in the wake of the financial crisis which led to a series of taxpayer bail-outs.
Lloyds has been left 41% owned by the state after assuming billions of pounds of bad debts through its takeover of troubled lender HBOS.