- Mark Newton-Jones will step down on July 31
- Boohoo has commenced a search to replace Newton-Jones’ role on the board
- Newton-Jones has acted as non-exec director at Boohoo for almost three years
Mothercare boss Mark Newton-Jones will step down as non-executive director at fashion etailer Boohoo after three years in the role.
The online fashion retailer has announced that Newton-Jones will step down at the end of next month.
Boohoo, which reported a 42% increase in pre-tax profits to £15.7m in its full-year results in April, has said it has begun a search to replace Newton-Jones on the board and a “further announcement will be made in due course”.
Newton-Jones acted as non-executive director for Boohoo for almost three years, both before and after its AIM listing.
Boohoo chairman Peter Williams said: “I would like to thank Mark for his positive contribution to the board in the conversion from being a private to a public company and in particular for his retail insights”.
Joint chief executive Mahmud Kamani added: “Mark’s insight as a retailer has been hugely helpful to Carol and me over the last three years.
“We both thank him for his friendship and his valuable contribution as we’ve established Boohoo as a listed business.”
Mothercare reported a 51% surge to £19.6m in its full-year profits in May under the helm of Newton-Jones, who revealed to Retail Week that he had spurned an approach over Debenhams chief executive role, which has since been given to Sergio Bucher.