Mothercare has announced the appointment of Matt Smith – currently Finance Director at Argos – as its new Chief Financial Officer and Executive Director.
Mr. Smith has spent ten years in senior financial roles at Home Retail Group, the owners of Argos; and his CV also features responsibility for supply chain, distribution and IT. Previously Mr. Smith has worked at KPMG in London and Sydney.
Simon Calver, Mothercare CEO, said “Matt’s experience working for a multi-billion [sic] pound UK retailer, and his understanding of multichannel development, will provide the Company with the financial and commercial expertise that it requires to deliver our Transformation and Growth plan, and to grow the business both in the UK and internationally.”
Matt Smith said “I believe in the huge potential for Mothercare to grow globally, and in the opportunities for the business to deliver more to its customers in the UK.”
The “transformation and growth plan” mentioned by senior executives of Mothercare plc., involves the closure of scores of stores. Its Early Learning Centre chain of toy shops are bearing the the burnt of the closure programme; these store were brought for a consideration of £85 million in 2007.