Mothercare new CFO to start in March

Mother and baby products retailer Mothercare confirmed that Chief Financial Officer Matt Smith, whose appointment was announced in November, will be joining the company at the end of March.

Matt has spent ten years as Finance Director at Argos, part of Home Retail Group. Prior to that, he worked at KPMG in London and Sydney as a director in its Corporate Finance Department.

Interim CFO Dominic Lavelle will be leaving the business in due course, Mothercare said.

Chief Executive Simon Calver said: "His appointment adds significantly to the commercial and financial expertise of the company and is vital for the delivery of the Transformation and Growth plan."

In January the baby and maternity retailer reported a decline in sales following poor performance at UK stores. In contrast, International sales rose strongly.

CJ