Statement re : Appointment of Chief Executive Officer
(dpa-AFX International Compact Via Acquire Media NewsEdge) Mark Newton-Jones appointed Chief Executive Officer of Mothercare
Mothercare is very pleased to announce the appointment of Mark Newton-Jones as
its Chief Executive Officer. He will take up his position and join the
Mothercare Plc Board on 17 July 2014.
The appointment follows Mark Newton-Jones' successful tenure as the Group's
interim CEO, a position he has held since 17 March 2014. The Board has
conducted a thorough recruitment process over the past few months and is
confident Mark is the right person to lead the business.
Mark has extensive retail experience - across both stores and online - gained
during a career that spans more than 30 years. Most recently he spent 10 years
as CEO of Shop Direct Group during which he led its turnaround and
transformation into one of the UK's leading internet and home shopping
businesses. Previously Mark spent 18 years at Next Plc where he held a variety
of senior retail roles, including in his last five years as the Director
responsible for the Next Directory.
Since the start of the financial year, progress has been achieved across our
International and UK businesses and the Board believes that scope for further
improvement and growth in shareholder value is substantial. The Company will
provide an update at the time of its AGM on 17 July on recent trading
performance and Mark's initial views as part of its Q1 update.
Alan Parker, Chairman of Mothercare Plc, said: "I am delighted that Mark will be
joining Mothercare on a permanent basis as our new CEO. He has made a
substantial difference to the UK business already in the four months he has been
with us and is a first-class retailer with a highly successful track record.
After a rigorous recruitment process, we have chosen a strong and experienced
leader in Mark to drive the UK turnaround, and take Mothercare's international
business from strength to strength in order to deliver significant value for our
Mark Newton-Jones said: "I am very much looking forward to leading the
Mothercare Group at such an important time in its development. Mothercare and
Early Learning Centre are two iconic UK retail brands which have both developed
into significant international businesses, serving parents and young children in
60 countries. We now need to put in place the building blocks to strengthen the
UK performance and I believe there is then a tremendous opportunity to take this
business forward. It will be a pleasure to work alongside Mothercare's team of
passionate and knowledgeable colleagues as we rebuild the UK and continue to
grow our global presence."
Notes to Editors
Prior to joining Mothercare in March 2014, Mark Newton-Jones was CEO of Shop
Direct Group, a position he held for almost ten years. He joined the Group in
2003 at Littlewoods Stores and was appointed Group Chief Executive of the newly-
formed Littlewoods Shop Direct Group in 2005. Under Mark's stewardship, Shop
Direct embarked on one of the largest retail integrations in Europe, merging and
integrating Littlewoods and Great Universal Stores, and a significant
transformation journey from a failing large scale bricks-and-mortar operation,
to one of the UK's leading multi-channel retailers with seamlessly integrated
mobile, online and digital platforms. Mark led the acquisition of Empire Stores,
followed by the purchase of the Woolworths and Ladybird brands in 2009 and the
launch of the successful online fashion brands, www.very.co.uk and www.isme.com
Prior to joining Shop Direct Group, Mark spent 18 years at Next, rising through
the ranks to become the youngest regional manager with responsibility for over
100 of Next's 300 stores at the age of 25. In his last five years at Next he was
responsible for the highly successful Next Directory, taking it online in 1998
and becoming one of the UK's first online retailers. Mark began his retail
career in his family run retail and wholesale business, working alongside his
father and grandfather.
Mark holds two non-executive director positions at boohoo.com and Pockit.
The Mothercare group is comprised principally of two leading retail brands with
international appeal; Mothercare and Early Learning Centre.
The group's brands operate through three distinct channels to market; UK stores,
Direct (being the in-home and in-store internet-based businesses and catalogue
mail order), and International.
The International business is significant, with Mothercare and ELC brand retail
operations operated by group franchisees (and three joint ventures) in over
1200 locations in 60 overseas markets. International retail sales represent
over 60% of the group's total retail sales.
Mark Newton-Jones will be appointed on a salary of £600,000. His remuneration
package will be in line with the Directors' Remuneration Policy being put
forward for approval by shareholders at the Annual General Meeting on 17th July,
including an element in respect of relocation. Details of long-term incentive
plan awards and targets will be agreed following shareholder consultation, as
already disclosed in our Annual Report and Accounts.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Mothercare Plc via GlobeNewswire
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