Mark Newton-Jones has stepped down as an executive director of mother and baby products retailer Mothercare.
Newton Jones resigned from his position as CEO in January as the group moved through the final stages of its transformation plan to become an international franchise operation.
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He was due to remain as an executive director until July and will now continue to serve on the board as a non-executive director, subject to his re-election at the next annual general meeting.
“I would like to thank Mark for his contribution to the business over what has proved to be a turbulent period and I am delighted that we will be able to call upon his retail experience as we go forward,” said chairman Clive Whiley.
Interim CEO Glyn Hughes left the business at the end of June after ruling himself out of Mothecare’s search for a new CEO.
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In an update on its transformation plan last month, in which it confirmed Hughes’ departure, Mothercare said it is still on track to becoming a profitable international franchise operation and is in talks with new debt providers to engage in new facilities for its recapitalisation.
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By GlobalDataThe retailer collapsed into administration last November resulting in 2,500 job losses and the closure of 79 stores.
