This ad will be closed automatically in X seconds.

Leadership shuffle at Mothercare

More changes for nursery and maternity retailer Mothercare, as a turbulent few weeks culminated in the resignation of non-executive chairman Alan Parker late last week. Clive Whiley was appointed interim executive chairman, with immediate effect.

“After completing six years as Chairman, I feel the time is right to hand over the chairmanship of Mothercare to Clive,” said Alan, commenting on his departure from the business. “His experience of successful restructuring and refinancing will help steer Mothercare through its next phase.”

In response, Clive acknowledged the pressure the business is currently under and said he would will work tirelessly to return Mothercare to ‘its rightful place’ and would; “endeavour to return Mothercare to a sound financial footing and deliver a successful plan to improve performance on behalf of all of Mothercare’s stakeholders.”

David Wood, Mothercare’s newly-appointed ceo, commented on the leadership shuffle, saying; Mothercare is currently facing a number of challenges, not least a highly competitive retail environment. We recognise the clear needs ahead of us as we pursue our refinancing to allow us to complete our transformation plan.”

He concluded; “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 stabilise the business and take it forward.”

Mothercare recently called on accountancy giants KPMG to help negotiate waivers on its loan agreements (with HSBC and Barclays) to avoid falling into liquidation. Those discussions are expected to conclude before 17 May 2018.

 

MORE NEWS
s3-news-tmp-247257-tommee_tippee_1--default--1280
 
New marketing plans will be driving consumer awareness for products and values throughout 2020....
babe500
 
Popular pushchair brand has joined other nursery names returning to this year's show....
Toddlersandtoys500x500
 
Sales decrease by 3% across the 13 global markets tracked by The NPD Group....
gruf500
 
Preschool favourite secures its place in the shortlist for the 20th anniversary event....
ToyFairNY19500x500
 
Nearly 200 companies will be showing infant/preschool toys across the event's four days....
TinyandSmall500x500
 
Deal secured with Gulliver’s Theme Park Resorts, new episodes set for CBeebies and YouTube Kids, plus new creative direction....
Get the latest news sent to your inbox
Subscribe to our daily newsletter