Mothercare CFO steps down

By

Barbara Santamaria

Published
May 11, 2017

British childrenswear and nursery retailer Mothercare has announced that Richard Smothers will step down from the role of chief financial officer and executive director.

He will remain in the company until a successor has been identified and an appropriate transition plan put in place. This is expected to happen towards the end of the calendar year, said Mothercare.

Smothers joined the UK brand in March 2016, when Mothercare’s struggling UK business was undergoing an aggressive turnaround aimed at bouncing back from years of underperformance.

"Richard has played a significant role in the first phase of the turnaround of the Mothercare brand, helping us to build a strong platform for future growth. On a personal note I'd like to thank him for his support and wish him well for the future," said chief executive officer Mark Newton-Jones.

The company has already begun the search for a new chief financial officer.