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Statement re : Board Change

Monday 24 February 2014

Board Change

The Board of Mothercare plc announces today that Simon Calver has resigned from his role as CEO of Mothercare plc with immediate effect, and will be leaving the Company at the end of March 2014.

The Board remains confident in the underlying strength of Mothercare and expects results for the year ending March 2014 to be in line with current market forecasts.  The strategy remains to restore profitability in the UK business to complement the strong and growing International operations.

The Board is commencing the search for a Chief Executive immediately. For the interim period, the executive management of the Company will remain responsible for the day-to-day running of the business and will report directly to the Chairman. Simon Calver will provide transitional support until the end of March.

Alan Parker, CBE, Chairman of Mothercare plc, said: "Since Simon Calver joined Mothercare plc in April 2012, under his leadership the Company has made progress in implementing the Transformation and Growth plan. In particular, Simon Calver's e-commerce expertise has allowed Mothercare to accelerate its development as a multi-channel retailer in the UK. We wish him well in the future. Mothercare has a strong executive management team which is very capable of running the business in the interim while the search for a new CEO is under way."

Note to Editors:

By agreement, Simon Calver will receive £250,000 payment in lieu of six months' notice (together with £44,540 as compensation for contractual benefits including pension contribution), paid in two instalments and set off against any payments he receives for any future employment or appointment he accepts in the notice period. There will be no bonus payment in respect of the 2014 financial year, and the proportion of the 2013 bonus awarded as deferred shares will lapse. Simon Calver was entitled to 12 months' notice under his service agreement.

In accordance with the rules of the Company's long term incentive plan, the awards granted to Simon Calver will lapse.

Simon Calver participates in one of the Company's voluntary all employee share plans and he will be treated in accordance with the rules of these plans for employees who resign.


Enquiries to:

Mothercare plc

Matt Smith, Chief Financial Officer

Ramona Tipnis, Director of Investor Relations                                   01923 206455

Tulchan Communications

Katharine Wynne                                                                          020 7353 4200




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Source: Mothercare Plc via Globenewswire

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