Sunny

Sunny

max temp: 24°C

min temp: 14°C

ESTD 1874 Search

Retail: Simon Calver steps down as Mothercare chief executive

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

1 comment

  • lovefilm to mothercare [ a sort of same thing] i would have thought this was a job for a woman.250 thousand for another failure.

    Report this comment

    TERENCE MANNING

    Monday, February 24, 2014

Giffords Hall Vineyard feature. Including the use of drone technology to measure crop yield. Pictured is owner Linda Howard.

Vineyard owners in Suffolk and Essex say their industry has grown so quickly over recent years that the region may soon follow famous French appellations in seeking protected status for its wines.

Households are still spending more on leisure, but younger consumers a worried about their future finances following the vote for Brexit.

Britain’s households increased their spend on leisure activities last month, but many are concerned about the future impact on their finances from the vote to leave the European Union.

European Union Competition Commissioner Margrethe Vestager speaking during a media conference at EU headquarters in Brussels.
Photo: AP Photo/Virginia Mayo

Technology giant Apple has vowed to overturn a record 13bn euro (£11.1bn) bill after a European Commission ruling that it has an illegal “sweetheart” tax deal in Ireland.

The newly rebranded Fenwick store, previously Williams & Griffin, in Colchester.

Colchester’s new-look Fenwick department store is to be officially unveiled on September 15 following a £35m redevelopment.

12-20 Upper Orwell Street, which could be demolished and regenerated if plans by the East of England Co-op go through

A derelict building in Upper Orwell Street which has been empty for decades could be set for demolition if new plans for the area are approved.

HOT JOBS

Show Job Lists

Most read

Most commented

Topic pages

Streetlife

Newsletter Sign Up

Sign up to the following newsletters:

MyDate24 MyPhotos24