Mothercare has announced the appointment of David Wood as CEO with immediate effect. David’s appointment ensures that Mothercare has in place fresh leadership to complete its transformation plan and return to growth. Mark Newton-Jones has stepped down as CEO.
David has considerable experience gained across a number of international consumer facing brands, with a strong track record for turning around and growing retail businesses. David was previously Group President of Kmart Holding Corp, a US $3bn US grocery retail and pharmaceutical business, where he successfully transformed the customer value proposition and retail operating model, returning the business to sustainable profit growth. Prior to this, David held a number of senior commercial, marketing and general management positions at Tesco where he achieved similar results in the UK and internationally. David will join the Board as an executive director.
Alan Parker, Chairman, commented, “Mothercare is a great brand with a great future but it is facing a number of challenges, not least a highly competitive retail environment. Our transformation strategy is focused on improving the performance of the Group in the UK and internationally, ensuring Mothercare has the best store format, digital capabilities and customer offer as well as several actions to reduce central costs. We have made positive progress but it is essential that we have the most effective leadership in place to meet our ambitions for our customers and our shareholders. David has a great track record in similar circumstances across international and consumer facing brands and is a highly effective operator of retail operations. I look forward to working with him and the team.”
Parker added, “On behalf of the Board, I would also like to thank Mark for his contribution and for leading Mothercare over the last four years. We all wish him well for the future.”
David Wood, CEO, commented, “I am delighted to be leading Mothercare, a business with a fantastic heritage and an exciting future both in the UK and internationally. My immediate focus is to ensure Mothercare is put back on a sound financial footing and deliver a successful plan to improve performance. Central to this will be our customers and their experience, securing Mothercare’s reputation as the number one choice for parents. I look forward to working with the Board and with the management team to deliver on our plans.”