Nursery Today magazine

Mothercare downsizes boardroom to reduce costs

Mothercare has reduced the size of its board of directors in a bid to overturn its financial losses.

Mark Newton-Jones, the retailers Chief Executive, said the company has added more restructuring experts and the board now has directors who are more hands-on with the company’s restructuring with the boardroom reshuffle expecting to halve its cost next year.

Newton-Jones spoke on Mothercare’s boardroom restructure at a conference this week. “We had a board that was of a scale appropriate for a much larger company,” he said at a Times CEO Summit panel. “We now have a board that is very operational and is contributing beyond governance.” 

Mothercare posted its financial results for the year ended 30 March last month and acclaimed its progress following a CVA. However, the company’s losses widened by almost 20 per cent to £87.3 million, while group revenues fell 7.9 per cent to £1.07 billion for the year.

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