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Boots has appointed Currys boss Alex Baldock to take on the high street healthcare and beauty chain’s top job later this year.

The planned appointment comes amid growing speculation that Britain’s biggest chemist is preparing for a potential multibillion-pound stock market listing.

Mr Baldock will become chief executive of the retailer in the autumn, succeeding Anthony Hemmerdinger, who is currently senior vice president and managing director of Boots in the UK and Ireland.

He recently revealed plans to step down from Currys after eight years in the job for a “new opportunity” outside the firm.

Sebastian James, Mr Baldock’s predecessor at Currys, when it was called Dixons Carphone, also left to join Boots, in 2018. Mr James left Boots in 2024.

Mr Baldock said he was “honoured” to be joining Boots.

“Boots is an iconic, trusted brand with a strong heritage and plays such an important role in millions of customers’ lives,” Mr Baldock said.

“This is an exciting new chapter for Boots, which is uniquely well-positioned to meet customers’ growing needs in beauty, health and wellness.”

Prior to joining Currys, Mr Baldock was the boss of Shop Direct, now called Very Group, and managing director of Lombard.

In a statement, the Boots Group board of directors, said: “As we look ahead, we are fully committed to continuing to offer an outstanding experience for all our communities and strongly believe in the opportunity for significant long-term growth at Boots.

“Alex is an experienced, transformational leader with a track record of success and we are delighted he will be joining us as we embark on our next phase of transformation, growth and investment.”

The leadership change comes amid a period of transition for Boots after it was sold by Walgreens Boots Alliance to private equity firm Sycamore Partners for 10 billion dollars (£7.4 billion).

It formed a new business, including Boots UK and Ireland, Boots Opticians, No7 Beauty company and pharmacies in Thailand, Mexico and Germany, based in the UK.

Stefano Pessina and his family retained a stake in Boots as part of the deal.

Last month, reports suggested that Boots’ owners have been working on a strategy overhaul ahead of a potential stock market float, which could take place as soon as next year.

Retail analysts have indicated it could be valued at between £5 billion and £7 billion.