Mark Wright has been appointed as the interim CEO at JoJo Maman Bébé, following the departure of CEO Gwynn Milligan. The company was founded by Laura Tenison in 1993 and has recently undergone ownership changes. Wright, formerly the COO of FatFace, will commence his role later this month. JoJo Maman Bébé recently reported financial losses.
- Mark Wright takes on the role of interim CEO at JoJo Maman Bébé.
- Former CEO Gwynn Milligan departs, having led the company since April 2022.
- Laura Tenison, the founder, stepped down in 2022 after nearly three decades.
- The business reported a loss of £672,350 for the seven months to January 2023.
- JoJo Maman Bébé is partially owned by Next and Davidson Kempner.
Mark Wright has been appointed as the interim chief executive officer at JoJo Maman Bébé. He takes over following the departure of CEO Gwynn Milligan, who had been leading the company since April 2022. Milligan initially joined JoJo Maman Bébé as commercial director in 2017 before stepping up as CEO. Wright, who formerly held the position of chief operating officer at FatFace, left the company earlier this year and is set to begin his new role at JoJo Maman Bébé later this month.
JoJo Maman Bébé was founded in 1993 by Laura Tenison. Tenison played a pivotal role in the brand’s development, steering it towards becoming a leading name in the maternity and childrenswear market. She stepped down in 2022, marking the end of an era for the company. To secure its future growth and stability, JoJo Maman Bébé underwent a significant ownership change when Next acquired 44% of the shares. The remaining 56% of the company was purchased by investment entities managed by the hedge fund Davidson Kempner.
The financial performance of JoJo Maman Bébé has been under scrutiny due to recent losses. The company announced a loss before tax of £672,350 for the seven months ending January 2023. This financial information highlights the challenges faced by the brand in a competitive market. The leadership change with Mark Wright at the helm is anticipated to bring about a strategic shift to navigate these challenges and improve the brand’s financial standing.
The appointment of Mark Wright as interim CEO marks a new chapter for JoJo Maman Bébé in its bid to overcome recent financial hurdles.
