Mothercare has announced that Daniel Le Vesconte has stepped down from his role of chief executive and as a director of its board with immediate effect.
Le Vesconte joined the business back in January after a career working with fashion and footwear companies such as Abercrombie & Fitch, Dr. Martens, Wolverine Worldwide and VF Corporation.
Clive Whiley, Mothercare’s chairman, and Andrew Cook, the company’s chief financial officer, will revert to leading the operating board, as was the case for the previous three years, until a replacement chief executive is recruited.
In a trading update in early May, Mothercare said it had commenced refinancing discussions with its lender with a view to changing, renegotiating or refinancing its debt facility due to higher interest rates.
