No Place for Children

The Children's Place Retail Stores Inc. (Secaucus, N.J.) has asked for the resignation of ceo Ezra Dabah after an internal probe found he had violated internal policies for securities trades.

The company's board has named one of its own, Chuck Crovitz, as interim ceo until a permanent replacement is found. Crovitz was with Gap Inc. (San Francisco) from 1993 – 2003, most recently as executive vp and chief supply chain officer. Dabah will remain a member of the board of directors. His family owns about 30 percent of the company stock.

According to Chain Store Age magazine, the children's apparel specialty retailer found Dabah did not comply with the company's securities-trading policies. It also found irregularities in expense-reimbursement practices.