Mothercare chief executive departs

11th Oct 2011 13:45

Investors have applauded news that the baby and toddler products retailer Mothercare is parting company with its chief executive Ben Gordon.He will be stepping down when the company releases its interim results on 17 November. The search for a new chief executive is underway.Shares in Mothercare plummeted earlier this month when it reported a 9.6% decline in quarterly sales.Gordon is stepping down after nearly nine years in the job."We are grateful to Ben for the enormous change and improvement he has brought to Mothercare," chairman Alan Parker said. "On behalf of the board, I want to thank Ben for his significant contribution to Mothercare and we wish him every success in the future."The executive management will report directly to Parker as Mothercare searches for a chairman.At 2.05pm, shares in Mothercare were up by 13% at 216.8p.---RG