Richard Baker (British Businessman, Born 1962)
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Richard Baker (born 6 August 1962) was
CEO A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...
of
Boots Group Boots UK Limited (formerly Boots the Chemists Limited) is a British health and beauty retailer and pharmacy chain that operates in the United Kingdom. It also operates internationally, including Ireland, Italy, Norway, the Netherlands, Thailand ...
from 2003 to 2007. He has since served on a number of executive boards and launched private equity firm .


Early life and education

Baker graduated from
Downing College Downing College is a Colleges of the University of Cambridge, constituent college of the University of Cambridge and currently has around 950 students. Founded in 1800, it was the only college to be added to the university between 1596 and 1869, ...
,
Cambridge Cambridge ( ) is a List of cities in the United Kingdom, city and non-metropolitan district in the county of Cambridgeshire, England. It is the county town of Cambridgeshire and is located on the River Cam, north of London. As of the 2021 Unit ...
.


Career

Baker worked at Mars Confectionery for nearly 10 years, working his way up to sales and marketing director. He joined Asda Stores Ltd in 1995, where he worked for nine years, becoming Marketing Director in 1999, and ultimately chief operating officer in 2002, following their acquisition by
Walmart Walmart Inc. (; formerly Wal-Mart Stores, Inc.) is an American multinational retail corporation that operates a chain of hypermarkets (also called supercenters), discount department stores, and grocery stores in the United States and 23 other ...
. In September 2003, Baker joined
Boots Group Boots UK Limited (formerly Boots the Chemists Limited) is a British health and beauty retailer and pharmacy chain that operates in the United Kingdom. It also operates internationally, including Ireland, Italy, Norway, the Netherlands, Thailand ...
as chief executive officer. The company had been reporting losses following its ill-advised move into its 'Wellbeing' services. 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. The announcement met with widespread opposition, but the merger was cleared by the OFT in February 2006 and completed in July that year. Baker became chief executive officer of the new Alliance Boots GmbH. In April 2007, after publishing annual results that showed a profit increase of 7.4%, Alliance Boots was sold to
private equity Private equity (PE) is stock in a private company that does not offer stock to the general public; instead it is offered to specialized investment funds and limited partnerships that take an active role in the management and structuring of the co ...
firm
KKR KKR may refer to: * KKR & Co., a global investment firm *Kolkata Knight Riders, an Indian Premier League franchise * Rheinsberg Nuclear Power Plant (), first nuclear power plant in the former East Germany * Kalkara, Malta, postal code KKR *Kir-Bala ...
for £11.1 billion; the highest price ever paid by a private equity company for a British public company. Baker left the company on completion of the transaction. From 2008 to 2014, Baker served as non-executive chairman of Virgin Active. From 2009 to 2017, he served as chairman of the European Division of Groupe Aeroplan. From 2010 to 2018, he served as chairman of DFS. From 2014 to 2018, he served as non-executive director of
Whitbread Whitbread is a British multinational hotel and restaurant company headquartered in Houghton Regis, England. The business was founded as a brewery in 1742 by Samuel Whitbread in partnership with Godfrey and Thomas Shewell, with premises in L ...
. In June 2019, Baker launched his own
private equity Private equity (PE) is stock in a private company that does not offer stock to the general public; instead it is offered to specialized investment funds and limited partnerships that take an active role in the management and structuring of the co ...
firm, BD-Capital.


References

{{DEFAULTSORT:Baker, Richard 1962 births Living people Alumni of Downing College, Cambridge British retail chief executives People educated at Bishop Vesey's Grammar School People from Stamford, Lincolnshire People from Woking Whitbread people