JoJo Maman Bébé appoints Mark Wright as interim CEO amid leadership changes.
- Wright comes with extensive experience from his role at FatFace.
- The appointment follows the departure of former CEO Gwynn Milligan.
- The company recently reported financial losses, prompting strategic changes.
- JoJo Maman Bébé was acquired by Next and investment firms in 2022.
JoJo Maman Bébé has announced the appointment of Mark Wright as its interim chief executive officer. Wright previously held the position of chief operating officer at FatFace, a role which has equipped him with considerable industry experience. His expertise is expected to guide JoJo Maman Bébé into its next phase as it navigates ongoing strategic transformations.
This leadership transition occurs following the exit of Gwynn Milligan, who served as JoJo Maman Bébé’s commercial director from 2017 until her promotion to CEO in April 2022. Her departure has necessitated a swift appointment to ensure continuity in leadership, critical for the company’s strategic plans.
In the current challenging market conditions, JoJo Maman Bébé reported a pre-tax loss of £672,350 for the seven-month period ending 31 January 2023. Such financial results underscore the importance of Wright’s role in balancing strategic growth with financial stability.
The brand’s ownership structure underwent significant changes in April 2022 when it was acquired by Next, which purchased 44% of the brand’s shares, with the remaining 56% acquired by hedge funds managed or advised by Davidson Kempner.
Founded in 1993 by Laura Tenison, JoJo Maman Bébé has built a reputation in the premium maternity and childrenswear market. Its acquisition by Next signals a new era, wherein strategic appointments such as Wright’s are pivotal in steering the company towards renewed profitability.
Mark Wright’s appointment as interim CEO comes at a pivotal time for JoJo Maman Bébé as it seeks to return to financial stability and growth.
