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Mothercare finance chief to step down

Published 25/07/2014, 14:37
Mothercare finance chief to step down
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(Reuters) - British mother and baby products retailer Mothercare Plc (L:MTC) said Chief Financial Officer Matt Smith has resigned.

Mothercare, which has received takeover interest from its U.S. rival Destination Maternity Corp (O:DEST), on Friday said Smith would stay on for another 12 months.

London-listed Mothercare's CEO Simon Calver quit in February, weeks after a profit warning showed that plans to revive the group were faltering.

Smith was among several candidates being interviewed by department store chain Debenhams Plc (L:DEB) to succeed its Finance Director Simon Herrick, the Sunday Times reported earlier this month. (http://thetim.es/1k6Cr5Z)

© Reuters. Customers leave a Mothercare shop in London

Smith was named CFO last March.

(Reporting by Esha Vaish and Karen Rebelo in Bangalore; Editing by Sriraj Kalluvila)

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