The Children?s Place, Inc. announced the departure of Jane Elfers, CEO, and announced the appointment of Muhammad Umair as the Interim CEO, effective May 20, 2024. Mr. Umair and the Board are focused on continuing to build the Company?s position as a global best-in-class specialty retailer. In his capacity as Director, Mr. Umair has been immersed in the Company?s portfolio of brands, retail and wholesale network, and strategy to deliver great products and shopping experiences to its customers, including meeting with the leadership team and employees at the Company?s stores and distribution facilities, and engaging with its network of suppliers and partners.

The Board is committed to a seamless transition as it conducts a search for a permanent CEO. Muhammad Umair, age 38, was appointed to the Board on February 29, 2024. Prior to his appointment as President and Interim Chief Executive Officer of the Company, since 2021, Mr. Umair was a Senior Advisor for Origin Funding Partners, a global trade finance fund, where he was responsible for credit, recovery, and due diligence.

Prior to joining Origin, from 2016 to 2021, Mr. Umair was an Investment Manager at AMD Holding, in Riyadh, Saudi Arabia. Prior to 2016, Mr. Umair held positions in various organizations, including Head of Advisory at Armacom and Senior Auditor at Ernst & Young. He is a Chartered Accountant and associate member of the Institute of Chartered Accountants of Pakistan and the Institute of Chartered Accountants in England and Wales.

Mr. Umair is a seasoned professional with over 17 years of extensive experience in financial and investment management. His range of expertise spans raising, deploying and managing capital across multiple sectors in various countries. His experience also includes corporate advisory, operational and financial due diligence, and audit.