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.
Ahold Names John Rishton New CEO
Amsterdam, Netherlands, Royal Ahold NV on Friday named John Rishton as its new CEO. Rishton, reviously the company’s CFO, had served as interim CEO since Anders Moberg resigned in July.
The company is due to report third-quarter earnings Nov. 21, but in October said third-quarter sales were up 1.1% to $9 billion.
Separately, the company announced that deputy CFO Kimberly Ross would take the CFO job Rishton vacated.
Home Depot Gets Three New Directors
Atlanta, Three new directors have been appointed to the board of The Home Depot Inc. as part of a planned succession to replace four board members, the company said Thursday.
The new directors include F. Duane Ackerman, the retired chairman and CEO of BellSouth Corp.; Ari Bousbib, president of Otis Elevator Co.; and Karen Katen, chairman of Pfizer Foundation and recently retired as president of Pfizer Human Health.
Scheduled to retire from the Home Depot board in May are John L. Clendenin; Claudio X. Gonzales; Milledge A. Hart III and Kenneth G. Langone.
The company also announced that Helen Johnson-Leipold has resigned from the board “due to additional demands on her time.”