Mothercare PLC - Hemel Hempstead, England-based retailer - Says Chief Executive Officer Daniel Le Vesconte has stepped down from his role, and Chair Clive Whiley and Chief Financial Officer Andrew Cook will lead the operating board until a replacement is found. Le Vesconte joined the firm as CEO in January after holding senior leadership roles for brands such as A&F Corp, Dr Martens PLC and VF Corp. Mothercare has not specified the reason for his departure, but Whiley says "a change in the CEO is in the best interest of the company and its shareholders."
He adds: "The board is fully committed to the group's successful long-term strategy and, further to last month's pre-close trading update, the company continues to perform in line with expectations. In addition, we are progressing a number of options to refinance the group's debt facilities."
Current stock price: 5.95 pence, up 5.8% on Friday
12-month change: down 26%
By Sabrina Penty, Alliance News reporter
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Mothercare (MTC)
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