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Mothercare CEO Daniel Le Vesconte has stepped down from his role with immediate effect after only five months.
Vesconte joined Mothercare from Abercrombie and Fitch in January after having roles at Airwair International, owner of Dr Martens and Vans.
He was the first CEO of Mothercare since 2020 after covid ripped through the retailer’s profits.
Chairman Clive Whiley and chief financial officer Andrew Cook will lead the operating board until Vesconte’s replacement is found.
Whiley said: “The board believes that a change in CEO is in the best interests of the company and its shareholders. 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. Working together with Mothercare’s senior management team I am confident that the group’s successful, consistent strategy and culture will continue the group’s profitable growth.”
