Home Business NewsBusiness Mothercare boss rehired on lower salary

Mothercare boss rehired on lower salary

18th May 18 2:26 pm

Find out his pay cut

Mothercare boss Mark Newton-Jonesthe, who was sacked around a month ago as part of a management shake-up, has returned to work today but with a £132,000 pay cut.

The struggling retailer announced that Mark had re-joined the board as chief executive on an annual salary of £480,000— from a previous salary of £618,000.

“In recognition of Mothercare’s financial position and the support for the restructuring and refinancing given by multiple stakeholders, Mark has taken a significant pay cut,” the firm said.

Mark was ousted as CEO on April 4 after serving in the post for nearly four years.

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