Mothercare chief to step down

Chief executive Ben Gordon will leave on November 17 with “mutual consent” after nine years with the group, Mothercare said, amid tumbling sales and a weakening profits outlook.

The mothers-to-be, babies and children’s goods retailer, which has seen its share price slide more than 60 per cent since the start of the year, warned last week that its full-year performance will be disappointing.

Mr Gordon, whose replacement is yet to be found, led the company’s takeover of the Early Learning Centre and its international expansion. Mothercare has 353 stores in the UK and 969 overseas.

Mr Gordon, who was on an annual salary of £600,000, picked up a total of £5.2m in wages and share incentive scheme payments in the year to March 2011.