Boots chairman pledges to reinvest profits

The billionaire Alliance Boots boss who helped take the high street giant private for £11.1bn (€13.9bn) will not take any cash out of the business for two years, it emerged today.

Executive chairman Stefano Pessina landed the company with private equity firm Kohlberg Kravis Roberts last July, but neither will take dividend payments this year or next as they seek to grow the business.