Lloydspharmacy loses third boss in two-and-a-half years

1 March, 2013 | By Tiffany Holland

The UK boss of Lloydspharmacy Mark James has stepped down as the pharmaceutical retailer appoints its fourth managing director in two-and-a-half years.

James left the business yesterday after less than a year as managing director of Lloydspharmacy UK’s parent company Celesio UK. He has been replaced by the managing director of the group’s Irish division Cormach Tobin with immediate effect.

James was appointed to lead the UK arm of the pharmaceutical retailer in April last year as the company revealed a new Celesio UK country board structure which included its wholesale division AAH, where James had been group managing director.

Prior to this former Woolworths boss Tony Page had headed the business as Lloydspharmacy managing director from February 2011 but left almost a year later in January 2012.

Before Page, the business was without a boss for a year after Richard Smith exited the business in 2010.

Lloydspharmacy declined to say why James exited the business but a source close to the situation said his lack of retail experience had contributed to his departure.

Lloydspharmacy has been the subject of huge change of late. Two of its top team - chief commercial officer Steve Gray and business efficiency director Philip Streatfield - left in May last year and shortly after the company made 120 head office redundancies.

The retailer then posted a 45% pre-tax profit plummet to £57.2m for 2012.

But more recently, the retailer has attempted to boost business by trialling a more service-led offer and a store refresh across its whole European store estate. But it emerged it had closed its trial Healthcare Villages in Thurrock and Brent Cross.

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Honda to open first factory in Japan in nearly 50 years

Honda has announced that it will invest in its home market and open a new assembly plant in Japan capable of building up to 250,000 new cars annually.

The move comes amid a weakening yen, which could help Japanese automakers build vehicles more profitably for export. For years, the strong Japanese currency has hurt the country's exporters and their ability to make money on vehicles built at home. As a result, Honda and its Japanese rivals have invested heavily in building vehicles outside of Japan and manufacturing at home has taken a nose dive. 

But over the last three months, the yen has fallen 12 percent against the U.S. dollar. 

Honda will build its new plant in Yorii, a small city located about two hours northwest of Tokyo. 

The automaker's decision to open a new plant domestically is a sign that Japan's faltering economy is on the rebound, analysts say. 

Not only will Honda directly provide jobs to a city with a particularly weak economy, its suppliers will also open up shop nearby. The Yorii government anticipates that about 3,800 jobs will be added to the city by 2017 when the plant is fully operational. 

Honda says that it will build smaller vehicles including its Fit in Yorii, although the plant is unlikely to be tapped for export models. The next-generation North American Fit will be built in Mexico. 

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