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Carter's appoints Michael Casey as CEO

12
Jun '08

Carter's Inc the largest branded marketer in the United States of apparel exclusively for babies and young children, announced that Frederick J. Rowan, II is retiring as Chief Executive Officer and as a member of the Company's Board of Directors, effective August 1, 2008.

The Company also announced that Michael D. Casey, currently the Company's Chief Financial Officer, has been appointed to succeed Mr. Rowan as the Chief Executive Officer effective that same date.

"This succession in leadership is the result of planning that our Board and I have been discussing over the last several years and provides Carter's with strong leadership continuity," said Fred Rowan. "I am very proud of what the Company has accomplished in building our industry-leading position over the last 16 years.

With the investments we have made in talent, our repositioning of the OshKosh brand, and the significant improvements we've made in our Retail segment, I believe the Company is well positioned for future growth.

"Mike's leadership over the last 15 years and the breadth of his understanding of our products, our business, and the financial markets has earned him the full confidence of our Board, our employees, and our management team. Mike is the right person to lead the next phase of our growth," continued Mr. Rowan.

Mr. Rowan joined Carter's in 1992 as President and Chief Executive Officer and became Chairman of the Board of Directors in October 1996.

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