The Children’s Place Strengthens Leadership with New Board Appointment

On February 18, 2025, The Children’s Place, Inc. (Nasdaq: PLCE), North America’s largest dedicated children’s specialty retailer, announced a significant addition to its Board of Directors. Rhys Summerton has been appointed to the board, also taking on a role in the Audit Committee, marking a strategic move aimed at enhancing the company’s governance and financial oversight.

Rhys Summerton, an experienced investment professional, will serve on the Board of Directors until the company’s next annual meeting of stockholders in 2025. As an independent director, Mr. Summerton meets the qualifications of an “audit committee financial expert” as defined by the rules of the SEC and Nasdaq, adding a layer of expertise to the boardroom that is critical for overseeing the financial integrity of the company.

Mr. Summerton brings a wealth of experience in finance and investment management to The Children’s Place. Currently a Fund Manager and Investor at Milkwood Capital, he specializes in long-term, value-oriented global investments. His earlier career includes significant roles at Citigroup, where he served as a Senior Investment Analyst from 2001 to 2008 and later as Managing Director and Global Head of Emerging Market Equity Research from 2008 to 2013. Additionally, he has foundational experience as an Auditor at Ernst and Young, providing him with a robust understanding of financial practices and compliance.

Turki S. AlRajhi, the Executive Chairman of the Board of Directors, expressed enthusiasm over Mr. Summerton’s appointment, stating, “We are pleased to welcome Rhys to our Board of Directors. Rhys is a thoughtful leader and a man of integrity. I am delighted that he will be joining us.” This statement underscores the confidence the company has in Mr. Summerton’s capabilities and the strategic value he brings to the board.

The Children’s Place operates as the largest pure-play children’s specialty retailer in North America, boasting an extensive omni-channel portfolio of brands. The company’s global retail and wholesale network encompasses over 500 physical stores and two digital storefronts, alongside distribution operations in 15 countries through six international franchise partners. The Children’s Place is renowned for designing, contracting, and selling fashionable, high-quality outfits for children at competitive prices, further solidifying its position in the market.

The addition of Rhys Summerton to the Board of Directors of The Children’s Place signals a proactive approach to strengthening the company’s governance framework. With his extensive background in finance and investment, Mr. Summerton is well-positioned to contribute to the company’s strategic initiatives and financial oversight. As The Children’s Place continues to expand its reach and enhance its offerings in the children's retail sector, this appointment could play a pivotal role in navigating the complexities of the market landscape.

For more information about The Children’s Place and its offerings, visit www.childrensplace.com and www.gymboree.com.

For further inquiries, interested parties can reach out to the Investor Relations team at (201) 558-2400 ext. 14500.