Mothercare non-exec chairman steps down, exec chairman named

It really is all change at Mothercare with the under-pressure mother and baby products retailer having now changed its chairman just two weeks after its CEO was replaced.


Mothercare


The company said on Thursday that Alan Parker has retired from his position as non-executive chairman and in a strategy change, Clive Whiley has been appointed Mothercare's interim executive chairman, with immediate effect.

Still-new CEO David Wood said that the company “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 added that the change at the top “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.”

Meanwhile the outgoing Parker said that after six years in his role he felt the time was right to hand over the post. “[Whiley’s] experience of successful restructuring and refinancing will help steer Mothercare through its next phase. I am very pleased that he is taking on the role and wish him, the board and Mothercare's management team every success in the future."

Whiley himself said that given the pressures the business is under, “I greatly value the support already shown to me and the business by our financing stakeholders - including our shareholders, banking partners and pension fund trustees - and I will work tirelessly for them to return this business to its rightful place.”

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