Partly Cloudy

Partly Cloudy

max temp: 26°C

min temp: 16°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.

shares

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.

shares

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

Tim Dunford, managing director and master brewer at the Green Jack Brewery, third from left, with Beer for Summer judges Mark Dorber, left, and Charlie McVeigh of The Draft House, right, and Peter Gordon, on trade director of Budweiser Budvar.

A Suffolk brewing company is celebrating after winning a new national “Beer for Summer” competition.

The Bishop Of Ely, the Rt Rev Stephen Conway, centre, at the hospice site dedication in Cambridge with Mark Hart, construction director at Barnes Construction, right,  and Stuart Evans, chair of the trustees of the Arthur Rank Hospice Charity.
Photo: Paul Nixon Photography

An act of dedication has taken place to mark the start of contruction work on a new £10.5million hospice in Cambridge, which is being built by Ipswich-based Barnes Construction.

Ian Carr, chief executive of Prettys

Regional law firm Prettys has reported a 13% increase in revenue for the year to April 30.

Oliver Crichton and Ruth Sunaway of Birketts.

East Anglian law firm Birketts has announced the promotion of five senior associates to partner status across its four offices, including Oliver Crichton and Ruth Sunaway in Ipswich.

The Lord Lieutenant of Suffolk, Clare, Countess of Euston, presents the Queen's Award for Enterprise to Seafast.

Specialist logistics company Seafast was yesterday presented with the Queen’s Award for Enterprise.

Ipswich Station hanging baskets Shows (L-R) Jackie Rathbone, Abellio Area Ticket Office Manager; Kris Collins, Thompson & Morgan Comms Officer;  Ric Staines ActivGardens Lead Horticulturist and Trainer,

Stunning floral displays are welcoming passengers at Ipswich, Stowmarket and Diss rail stations this summer thanks to a partnership between local charity ActivLives and train operator Abellio Greater Anglia, with help from Ipswich’s own horticultural company Thompson & Morgan.

Carolyn Fairbairn, who is to become director general of the CBI.

A former member of the Number 10 Policy Unit is to become director general of the CBI.

Spending on drinking and eating out remained robut during May, according to the latest Greene King Leisure Spend Tracker report.

Most Britons are planning to holiday in the UK rather than overseas as they continue to monitor their spending carefully, according to a new survey.

Bury St Edmunds coffee company Frank and Earnest is among more than 100 start-up firms to have received support under Menta's Enterprise Engagement Programme.

Bury St Edmunds-based enterprise agency Menta has completed a project to support start-ups during their first year in business.

Lieutenant Aaron Lewis from Rochford, who was killed in Afghanistan in 2008 and in whose memory the Aaron Lewis Foundation has been established to support llocal and military charities through sporting and social endeavours.

The regional arm of David Wilson Homes has raised £17,000 at a golf day, held at Stoke by Nayland, for a charity set up in memory of a soldier.

Most read

Most commented

Topic pages