Mothercare boss, Daniel Le Vesconte has left the company with immediate effect.
Since Daniel started in the role in January, as the first Mothercare chief executive officer in two years, shares have declined by 40%.
Chairman Clive Whiley and chief financial officer, Andrew Cook, will take over ceo duties until the position is filled.
Clive commented: “The board believes that a change of ceo is in the best interests of the company and its shareholders.
“The board is fully committed to the groups successful and long-term strategy and, further to last month’s pre-close trading update, the company continues to perform in line with expectations.
“In addition, we are progressing a number of options to refinance the group’s debt facilities. Working together with Mothercare’s senior management team, I am confident that the group’s successful, consistent strategy and culture will continue the group’s profitable growth.”
