Mothercare CEO Calver to leave his post
MOTHERCARE chairman Alan Parker has shown chief executive Simon Calver the door less than two years into the job following a disastrous profit warning last month after he instigated huge and ill-judged discounting in the build-up to Christmas.
Calver's will walk away with almost £300,000, including £250,000 in lieu of his six-month notice period and a £44,540 pension payment.
Parker said: "We wish him well in the future. Mothercare has a strong executive management team which is very capable of running the business while the search for a new CEO is under way." Calver said: "Although there is more to do, I feel the time is right for somebody else to take up the challenge."