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Mothercare replaces CEO Mark Newton-Jones with David Wood

Baby products retailer Mothercare has announced the departure of CEO Mark Newton-Jones, with immediate effect.

The business has brought in David Wood, the ex-group president of US grocery and pharma chain Kmart, to replace Newton-Jones, who has been with the company for four years.

Mothercare said that Wood has a strong track record for turning around and growing retail businesses, and he joins Mothercare at a particularly challenging time for the organisation.

The retailer is in discussions with lenders for financial support off the back of a poor Christmas trading period, and is one of several UK retailers battling for sales growth.

Wood has also previously held senior commercial, marketing and general management positions at Tesco.

“My immediate focus is to ensure Mothercare is put back on a sound financial footing and deliver a successful plan to improve performance," said Wood.

“Central to it all will be our customers and their experience, securing Mothercare’s reputation as the number one choice for parents.”

Mothercare chairman, Alan Parker, added: “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 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.”

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