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SAN FRANCISCO, July 29 Children's Place Retail
Stores Inc (PLCE.O) said on Tuesday that Chief Financial Officer
Richard Paradise was resigning and would be replaced by Susan
Riley, currently the company's executive vice president of finance
The children's apparel retailer said in a statement that
Paradise was leaving effective Aug. 1 to pursue another business
The company operates approximately 900 of its namesake stores.
This spring, Children's Place sold its Disney store chain back to
Walt Disney Co (DIS.N).
Children's Place has been weighing a possible sale of the
company under pressure from its largest shareholder, board member
and former Chief Executive Ezra Dabah, who owns a 17 percent stake
in the company.
Dabah has said he might offer to buy the company for $24 a
Shareholders have sued the company, claiming that Dabah's
offer was timed to take advantage of a temporarily depressed share
In May, the company posted a greater-than-expected rise in
quarterly net profit, helped by robust demand for its children's
Shares of Children's Place closed at $39.06, up 3.4 percent,
on the Nasdaq on Tuesday.
(Reporting by Alexandria Sage, editing by Phil Berlowitz)