Within two weeks the global retailer for parents and young children brand Mothercare has seen the exit of their two top executives. Two weeks back, Ex CEO of Mothercare, Mark Newton-Jones steps down from his position and the retailer got David Wood as their new CEO.
In the latest development, earlier today, the Non -Executive Chairman Alan Parker has stepped down from his position. Clive Whiley has been appointed Mothercare's Interim Executive Chairman, with immediate effect.
Commenting on the development, David Wood said, "Mothercare is currently facing a number of challenges, not least a highly competitive retail environment. We recognize the clear needs ahead of us as we pursue our refinancing to allow us to complete our transformation plan.”
He added, Clive's appointment comes with the support of a number of our key shareholders and strengthens Mothercare's leadership with specific refinancing and restructuring experience. He has the skills required to help stabilize the business and take it forward."
Sharing about his stint with Mothercare, Alan Parker said, “After completing six years as Chairman, I feel the time is right to hand over the chairmanship of Mothercare to Clive. His experience of successful restructuring and refinancing will help steer Mothercare through its next phase."