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Executive shake-up at Children’s Place

The Children’s Place has lost two executives in a move to consolidate key management roles.

The retailer said that Pamela Wallack and Anurup Pruthi have left the business to “pursue other opportunities.” Wallack was named to the newly created role of president of global product for Children’s Place in May 2017. Pruthi was appointed CFO in 2014.

“Over the past several years, we have made significant investments in support of our company-wide business transformation efforts,” said CEO and president Jane Elfers. “As we approach the last phase of our major systems implementations, the opportunity exists for significant efficiencies across the organization, and today we are announcing a more streamlined senior leadership structure.”

Elfers said she will reassume direct responsibility for product and COO. Mike Scarpa, COO, will also take on the title of CFO.

Elfers added that the chain delivered positive comp sales every month in the third quarter, resulting in a positive high single digit comp for the quarter.

“In light of our strong performance, we are reaffirming our Q3 EPS guidance,” she stated. “Importantly, our inventory is in great shape as we enter Q4.”
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