Mothercare chairman Alan Parker steps down
Mothercare has announced that its chairman Alan Parker has stepped down and been succeeded by Clive Whiley.
The news comes just weeks after Mothercare chief executive Mark Newton-Jones left the struggling retailer and was replaced by Kmart group president, David Wood.
Parker had been chairman of Mothercare for six years.
In a statement, Mothercare thanked Parker for the “significant” contribution he had made to the business through what it described as a challenging period.
Parker said: "After completing six years as chairman, I feel the time is right to hand over the chairmanship of Mothercare to Clive. His 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."
Last week Mothercare reported that its UK like-for-like sales had fallen in its fourth quarter. The retailer has been working to transform the business by bringing down costs while implementing a planned strategy of reducing its UK store estate. It has also been in negotiations regarding its financing needs and additional sources of funds.
Whiley has become interim executive chairman with immediate effect.
Commenting on Whiley’s appointment, Wood said: “Mothercare 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.
“Clive's appointment 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."
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