The Board of Mothercare plc announces today that Simon Calver has resigned from his role as CEO of Mothercare plc with immediate effect, and will be leaving the Company at the end of March 2014.
The Board remains confident in the underlying strength of Mothercare and expects results for the year ending March 2014 to be in line with current market forecasts. The strategy remains to restore profitability in the UK business to complement the strong and growing International operations.
The Board is commencing the search for a Chief Executive immediately. For the interim period, the executive management of the Company will remain responsible for the day-to-day running of the business and will report directly to the Chairman. Simon Calver will provide transitional support until the end of March.
Alan Parker, CBE, Chairman of Mothercare plc, said: "Since Simon Calver joined Mothercare plc in April 2012, under his leadership the Company has made progress in implementing the Transformation and Growth plan. In particular, Simon Calver's e-commerce expertise has allowed Mothercare to accelerate its development as a multi-channel retailer in the UK.
We wish him well in the future. Mothercare has a strong executive management team which is very capable of running the business in the interim while the search for a new CEO is under way."