The Children’s Place Announces Appointment to Its Board of Directors

Rhea-AI Summary

The Children's Place (PLCE) has appointed Rhys Summerton to its Board of Directors and Audit Committee. Summerton, who qualifies as an independent director and 'audit committee financial expert' under SEC and Nasdaq rules, will serve until the 2025 annual stockholders meeting.

Summerton currently serves as Fund Manager and Investor at Milkwood Capital, a global value-oriented investment company. His previous experience includes roles as Global Head of Emerging Market Equity Research and Managing Director at Citigroup (2008-2013), Senior Investment Analyst at Citigroup (2001-2008), and Auditor at Ernst and Young.

Positive

• Addition of qualified audit committee financial expert to the board
• Appointment brings extensive financial markets and investment expertise

Negative

• None.

News Market Reaction

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-0.72% News Effect

On the day this news was published, PLCE declined 0.72%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

SECAUCUS, N.J., Feb. 18, 2025 (GLOBE NEWSWIRE) -- The Children’s Place, Inc. (Nasdaq: PLCE), the largest pure-play children’s specialty retailer in North America with an omni-channel portfolio of brands, today announced that the Company has appointed Rhys Summerton to the Company’s Board of Directors and as a member of the Audit Committee. Mr. Summerton will hold office until the annual meeting of stockholders of the Company to be held in 2025. Ms. Summerton is an independent director and qualifies as an “audit committee financial expert” under applicable SEC and Nasdaq rules.

Turki S. AlRajhi, Executive Chairman of the Board of Directors of The Children’s Place, commented, “We are pleased to welcome Rhys to our Board of Directors. Rhys is a thoughtful leader and a man of integrity. I am delighted that he will be joining us.”

Mr. Summerton is Fund Manager and Investor at Milkwood Capital, a long-term, value oriented, global investment company. Prior to launching Milkwood Capital, from 2001 to 2008, he was a Senior Investment Analyst at Citigroup and from 2008 to 2013, Managing Director at Citigroup where he was the Global Head of Emerging Market Equity Research. Mr. Summerton began his career as an Auditor at Ernst and Young.

About The Children’s Place

The Children’s Place is the largest pure-play children’s specialty retailer in North America with an omni-channel portfolio of brands. Its global retail and wholesale network includes two digital storefronts, more than 500 stores in North America, wholesale marketplaces and distribution in 15 countries through six international franchise partners. The Children’s Place designs, contracts to manufacture, and sells fashionable, high-quality, head-to-toe outfits predominantly at value prices. For more information, visit: www.childrensplace.com and www.gymboree.com.

Contact: Investor Relations (201) 558-2400 ext. 14500

FAQ

Who is the new board member appointed to The Children's Place (PLCE)?

Rhys Summerton, Fund Manager and Investor at Milkwood Capital, has been appointed to The Children's Place Board of Directors and Audit Committee.

What is Rhys Summerton's role on The Children's Place (PLCE) board?

Rhys Summerton will serve as an independent director and member of the Audit Committee, qualifying as an audit committee financial expert under SEC and Nasdaq rules.

How long will Rhys Summerton serve on The Children's Place (PLCE) board?

Rhys Summerton will hold office until The Children's Place annual meeting of stockholders to be held in 2025.

What is Rhys Summerton's professional background before joining PLCE's board?

Summerton is currently at Milkwood Capital, previously served as Global Head of Emerging Market Equity Research at Citigroup (2008-2013), Senior Investment Analyst at Citigroup (2001-2008), and started his career at Ernst and Young.