The Children’s Place Appoints VP
Secaucus, NJ, The Children’s Place Retail Stores Inc. said Wednesday it has appointed Richard Paradise as senior VP of finance, and expects him to assume the role of CFO once it has filed its delinquent financial reports.
Paradise's appointment is the latest in a string of operational changes as the company struggles with financial and operational woes.
Chief executive Ezra Dabah resigned in September at the request of the board after an investigation found the CEO did not comply with internal policies regarding stock trades. Childrens Place also stripped its chief creative officer of the title after finding "irregularities" in expense reimbursements.
The Children’s Place has not yet filed its annual report for the fiscal year ended February. It is reviewing statements made over the past three fiscal years due to "material weaknesses" in internal controls and financial reporting. As a result, Nasdaq has warned the company that it is delinquent and may be delisted from the exchange.