Economy Mothercare says CEO Newton-Jones steps down

Mothercare says CEO Newton-Jones steps down

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File- Customers leave a Mothercare shop in London October 11, 2008.

British baby goods retailer Mothercare Plc (MTC.L), which has already warned on full-year profit, said on Wednesday its Chief Executive Mark Newton-Jones stepped down effective immediately.The company named David Wood as its chief executive with immediate effect. Wood was formerly group president at U.S.-based Kmart Holding Corp.