The Children's Place Inc.

12/12/2024 | Press release | Distributed by Public on 12/12/2024 15:31

Management Change/Compensation Form 8 K

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

As previously disclosed on October 3, 2024, The Children's Place, Inc. (the "Company") announced Sheamus Toal will be leaving his positions as Chief Operating Officer and Chief Financial Officer (and as the Company's principal financial officer and principal accounting officer), effective December 14, 2024.

Laura Lentini, the Company's Chief Accounting Officer, has been appointed as Interim Chief Financial Officer as well as the Company's principal financial officer and principal accounting officer, effective December 15, 2024. Ms. Lentini, 61, joined the Company in October 2024 and has more than 30 years of accounting and finance experience. Prior to joining the Company, Ms. Lentini was Senior Vice President/Corporate Controller and the principal accounting officer of Capri Holdings Limited (formerly Michael Kors Holdings Limited) ("Capri"), which she joined in April 2004. Prior to joining Capri, Ms. Lentini served as Senior Vice President/Corporate Controller at Kasper ASL, Ltd. ("Kasper") from February 2001 to April 2004. Prior to joining Kasper, Ms. Lentini served as Corporate Controller at McNaughton Apparel Group, Inc. ("McNaughton") from February 1994 to February 2001 and also was Acting Chief Financial Officer at McNaughton from July 1996 to March 1997. Ms. Lentini began her career in public accounting and auditing at KPMG Peat Marwick. Ms. Lentini earned her BS in Accounting from Marymount Manhattan College, and is a CPA. The Company has an on-going search for a permanent chief financial officer with the assistance of an executive search firm.

Except for the arrangements described in this Current Report on Form 8-K, Ms. Lentini is not a party to any transaction, and there is no currently proposed transaction with Ms. Lentini, that is required to be disclosed pursuant to Item 404(a) of Regulation S-K. There are no family relationships between Ms. Lentini and any of the Company's directors or executive officers. Ms. Lentini is not a party to any arrangement or understanding regarding her selection as an officer.