Alex Baldock has taken over as chief executive of Boots on Tuesday, 1 September, bringing the former Currys boss into the UK health and beauty retailer as its owner weighs a potential London stock market listing or private sale.

Baldock joins Boots after eight years leading Currys, where he oversaw a turnaround that improved profitability and strengthened cash generation. Currys announced in March that he would leave the electricals retailer to take up a new external position, with Boots announcing his appointment in May.

Boots’ owner, US private equity firm Sycamore Partners, has been considering options that could value the retailer at more than £7 billion, including an initial public offering (IPO) and another private transaction. Sales discussions with the Weston family, the owners of Associated British Foods, and Australian pharmaceutical group Sigma Healthcare ended after Sigma withdrew in June.

Boots operates more than 1,800 stores across the UK, alongside its pharmacy, opticians and beauty operations, and has invested in refurbishing more than 40 flagship stores and more than 180 beauty halls over the past year. The retailer said Baldock will oversee its operations in the UK, Ireland and Thailand, as well as Boots Opticians and the No7 beauty business.

Baldock’s appointment follows a period of stronger performance at Currys. The retailer’s profit increased by a fifth to £153 million in the year to May, while its share price had risen more than 32 per cent over the previous year to 150p when he prepared to leave.

Baldock said he was “happier or prouder” to be joining Boots and highlighted the trust built by the retailer over its history. “I have much to learn, and fast,” he said, adding that he planned to spend time across the business and with its partners before building on its existing achievements.

Boots has not committed publicly to either an IPO or private sale, while its owner continues to pursue its growth strategy.

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