Simon Calver, CEO of Mothercare has resigned with immediate effect. The move follows a warning in January that profits at the firm were likely to be below expectations and comes amidst a restructuring programme that has seen approximately 80 stores close.

Mothercare said that it is confident that full-year financial results are likely to be in-line with expectations and that it would stick to its turnaround plan whilst searching for a new CEO.

Alan Parker, chairman, said: "Since Simon Calver joined Mothercare plc in April 2012, under his leadership the Company has made progress in implementing the Transformation and Growth plan. In particular, Simon Calver's e-commerce expertise has allowed Mothercare to accelerate its development as a multi-channel retailer in the UK. We wish him well in the future. Mothercare has a strong executive management team which is very capable of running the business in the interim while the search for a new CEO is under way."