// Mothercare boss Daniel Le Vesconte has stepped down, effective immediately.
// Chairman Clive Whiley and finance boss Andrew Cook will lead the operating board until the CEO replacement is found
Mothercare chief executive officer Daniel Le Vesconte has stepped down from the business, effective immediately after just five months at the helm.
Vesconte joined the retailer in January this year from Abercrombie & Fitch. He has also held senior positions at Vans and Dr Marten’s parent company Airwair International.
He became Mothercare’s first boss since 2020 as the retailer struggled to recover from Covid-19, which has significantly hampered its profits.
Chairman Clive Whiley and chief financial officer Andrew Cook will lead the operating board until the process to find a chief executive replacement is completed, the company said in a statement.
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“The board believes that a change in CEO is in the best interests of the company and its shareholders,” Mothercare said.
The departure comes a month after the London-listed company held talks with its lender to change, renegotiate, or refinance its debt facility due to higher interest rates.
It had warned that it may need waivers to future covenant tests.
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