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Children's Place appoints two new independent members to BoD

10
May '08
The Children's Place Retail Stores Inc announced the appointment of two new independent members of the Board of Directors, Mr. Louis Lipschitz and Dr. Joseph A. Alutto. The two independent directors will fill vacancies on the Board of Directors and will begin serving immediately. The Company also announced its slate for the upcoming annual shareholders' meeting scheduled for June 27, 2008.

The slate of nominees includes Mr. Lipschitz and Dr. Alutto, along with four incumbent directors, Charles Crovitz, Ezra Dabah, Robert Fisch and Stanley Silverstein. The Board unanimously supported the slate of directors and the Company's largest stockholder, Ezra Dabah, has agreed to vote in favor of the slate.

Mr. Lipschitz, age 63, currently serves on the Boards of Finlay Enterprises, New York & Company, Majesco Entertainment and Forward Industries. Previously, Mr. Lipschitz served as Executive Vice President and Chief Financial Officer of Toys "R" Us, Inc. from 1996 until his retirement in 2004. He joined Toys "R" Us in 1986 as Vice President and Treasurer. He was promoted to Vice President - Finance and Treasurer in 1990 and to Senior Vice President - Finance and Chief Financial Officer in 1993.

Prior to joining Toys "R" Us, Mr. Lipschitz was Senior Vice President and Chief Financial Officer of Lerner Stores, where he spent four years. He began his career in public accounting with the firm of S.D. Leidesdorf & Co., which subsequently merged with Ernst & Young. Mr. Lipschitz will serve on the Audit and Governance Committees.

Dr. Alutto, age 66, is a leading academic authority on managerial behavior. Since October 2007, he has served as the Executive Vice President and Provost of The Ohio State University. Prior to this position, Dr. Alutto served as the institution's interim President from July 1, 2007, until September 30, 2007. Prior to these positions, Dr. Alutto served as the Dean of the Max M. Fisher College of Business at The Ohio State University for 16 years.


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