Mothercare boss steps down after just five months in charge
Daily Mail Mothercare's boss has resigned with immediate effect after less than five months in the job, amid continued turmoil at the maternity products retailer.
Daniel Le Vesconte became chief executive in mid-January, making him the first person to hold the post since Mark Newton-Jones left in early 2020.
He arrived soon after the company declared a significant slump in half-year profits and revenues following its exit from Russia, where it earned between a fifth and a quarter of its global retail sales.
Mothercare reported in May that retail sales by franchise partners declined by 63million to 322million in the last financial year.
At the same time, the firm announced discussions were taking place with its lender to either refinance, vary or renegotiate a debt facility due to recent interest rate hikes and warned it could need waivers to future covenant tests.
