Children's Place CFO resigns, replaced by former Talbots COO

Secaucus, N.J. -- The Children's Place Retail Stores Inc. reported Monday that its CFO Steven Baginski has resigned the company, effective immediately.



According to the retailer, Baginski is leaving to pursue other interests.



Former COO and CFO of The Talbots Inc., Michael Scarpa, has been named Baginski’s successor, effective Dec. 3.



Scarpa also worked at Liz Claiborne Inc. for 25 years.



In related news, Children's Place also said its board approved the repurchase of up to $100 million in stock. The company approved the repurchase of $50 million in stock in March, and at the end of the third quarter $21.6 million remained under that authorization.