The Children's Place, Inc., the largest pure-play children's specialty apparel retailer in North America, announced that Lou Lipschitz, a member of its Board of Directors and Chair of the Audit Committee, has passed away.
Norman Matthews, The Children's Place Chairman of the Board of Directors, stated, "We are deeply saddened by the passing of our friend, colleague and trusted advisor Lou Lipschitz. Lou's financial leadership, and passion for our business, enriched our company and our board, and we will dearly miss his dedication, grace and wonderful sense of humor."
Mr. Lipschitz served on the Board of Directors since 2008, and was the Chair of the Audit Committee and a member of the Nominating and Corporate Governance Committee. Prior to joining our Board, Mr. Lipschitz served as the Executive Vice President and Chief Financial Officer of Toys "R" Us, Inc. from 1996 until his retirement in 2004.
About The Children's Place, Inc.
The Children's Place is the largest pure-play children's specialty apparel retailer in North America. The Company designs, contracts to manufacture, sells and licenses to sell fashionable, high-quality merchandise at value prices, primarily under the proprietary "The Children's Place," "Place" and "Baby Place" brand names. As of May 3, 2014, the Company operated 1,106 stores in the United States, Canada and Puerto Rico, an online store and had 48 International stores open and operated by its franchise partners.