Mothercare CFO quits

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Mothercare (Image: Press Association)

Maternity retailer Mothercare has announced the departure of its chief financial officer and executive director.

Richard Smothers has reportedly handed in his notice, but will remain at the retailer for up to 12 months until a suitable replacement is found.

A transition plan and successor are expected to be put in place at the end of 2017.

READ MORE: Mothercare cashes in on currency fluctuations in quarterly results

“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,” chief executive Mark Newton-Jones said.

“On a personal note I’d like to thank him for his support and wish him well for the future.”

Last month the retailer released its fourth quarter results, posting a 4.5 per cent rise in like-for-like sales in the UK.

Outside of the UK, sales dipped 1.7 per cent on a constant currency basis, but this was offset by turbulent currency fluctuations.

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