MD leaves after 25 years
Ian Wade, managing director of Superdrug owner AS Watson, has retired after almost 25 years.

Hutchison Whampoa executive director Dominic Lai will take over the role of acting group managing director, with immediate effect.

Wade's replacement, Lai, first joined the Hutchison Group in 1994 as AS Watson chief operating officer and finance director. He was subsequently appointed as Group managing director of Harbour Plaza Hotel Management (International) in 1998 and executive director of Hutchison Whampoa in 2000.

AS Watson is an international retail and manufacturing business with operations in 37 markets worldwide. The group operates 7,600 retail stores and employs more than 98,000 staff. Profits have slumped at its main UK chain Superdrug.

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