The Children’s Place Inc. (Secaucus, N.J.) announced the departure of longtime President and CEO Jane Elfers and the appointment of Muhammad Umair as President and Interim CEO.
In its coverage of the news, NJBIZ reported that Umair joined the company’s board in February, shortly after new majority shareholder Mithaq Capital said it would nominate a new slate of directors.
Umair’s 17 years of experience in the fields of finance and investment management includes working as a senior advisor at Origin Funding Partners, an investment advisor at AMD Holding, head of advisory at Armacom and senior auditor at Ernst & Young.
In its news release on the change, the company thanked Elfers for her dedication to the company and wished her well in her next chapter. Jane Elfers said, “I want to thank the entire team at The Children’s Place for their hard work and dedication, and I wish them the best of luck.”
Mr. Umair said, “I am deeply honored and excited to be appointed as the President and Interim CEO of The Children’s Place. I extend my heartfelt gratitude to the Board of Directors for putting its trust and confidence in my leadership. The Children’s Place and our portfolio of brands have a strong connection to our customers, and I look forward to leveraging the many opportunities ahead in the children’s apparel retail segment.”
The Children’s Place describes itself as an omnichannel children’s specialty portfolio of brands with a digital-first model. Its network includes four digital storefronts, more than 500 stores in North America, wholesale marketplaces and distribution in 16 countries through six international franchise partners.