Partly Cloudy

Partly Cloudy

max temp: 19°C

min temp: 14°C

Search

Retail: Simon Calver steps down as Mothercare chief executive

PUBLISHED: 08:09 24 February 2014 | UPDATED: 08:09 24 February 2014

Simon Calver has stepped down as chief executive of Mothercare.

Simon Calver has stepped down as chief executive of Mothercare.

The boss of under-pressure retailer Mothercare has resigned after less than two years in the role.

Simon Calver’s exit as chief executive with immediate effect comes six weeks after the company issued a profits warning due to poor Christmas trading in the UK.

Mr Calver was a surprise choice to run the baby products retailer in April 2012 after seven years at the helm of internet movie rental firm LoveFilm.

He has overseen a major store reduction programme but the company, which includes the Early Learning Centre, has struggled to revive profitability in the face of fierce competition from supermarkets and online retailers.

Mothercare gave no reason for Mr Calver’s resignation but stressed that there has been no change in the company’s trading position or strategy.

The rest of Mothercare’s executive team will take on the running of the business while the search for Mr Calver’s replacement takes place.

Chairman Alan Parker said Mr Calver had made progress in implementing the company’s turnaround programme.

He added: “In particular, Simon Calver’s e-commerce expertise has allowed Mothercare to accelerate its development as a multi-channel retailer in the UK.

“Mothercare has a strong executive management team which is very capable of running the business in the interim while the search for a new chief executive is under way.”

Mr Calver’s contract entitles him to £250,000 in lieu of six months’ notice. The group, which has around 230 stores under the Mothercare and Early Learning Centre brands, made a loss of £21.7 million in the UK during its most recent financial year.

Last month, analysts said they expected a deficit of around £18million in the current year to the end of March, although stronger trading by international franchise stores meant the company was still set to make a profit.

Search hundreds of local jobs at Jobs24

Comments have been disabled on this article.

Leisure airline Jet2.com has added further to its Stansted schedule for summer 2018, with three new routes and extra flights to nine other destinations.

A trade mission aimed at building links between the South West and the East has been hailed a success.

The deregulation of the English water market has allowed Anglian Water to secure an exclusive contract with Pure Gym, the UK’s largest private gym provider.

Thousands of workers who paid “unconstitutional” fees to take their employers to tribunal could be in line for a £27m refund.

Frequent power cuts have been reported in Framlingham over recent days – including several in a short space of time this afternoon.

Management Jobs

Show Job Lists

Most read

Topic pages

Newsletter Sign Up

Sign up to the following newsletters:

Sign up to receive our regular email newsletter
MyDate24 MyPhotos24