Management Turnover as Change Agent

Monday, February 25, 2008

Former Children's Place CEO Files Complaint

Ezra Dabah, the former CEO of troubled children's retailer (see earlier blog post) and the largest shareholder of The Children's Place PLCE (NASDAQ), continues to pressure the company. Dabah who was previously forced out as CEO has been seeking with the help of a private equity investor to buyout the firm. A Business Week story last Friday talked specifically about Dahah's latest move, the filing of a complaint with the SEC.
Dabah requested that the company hold its annual meeting within 45 days of his filing the complaint. The meeting is currently scheduled for June 27. The last meeting was held June 22, 2006. "There is no reason to delay the annual meeting for another four months," Dabah said in the filing with the Securities and Exchange Commission.
Stay tuned as the company's saga grows.

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