The Children's Place has announced that Lou Lipschitz, a member of its board of directors and chair of the audit committee, has died.
"We are deeply saddened by the passing of our friend, colleague and trusted advisor Lou Lipschitz. Lou's financial leadership, and passion for our business, enriched our company and our board, and we will dearly miss his dedication, grace and wonderful sense of humor," Norman Matthews, The Children's Place chairman of the board, said.
Lipschitz served on the board of directors since 2008, and was the chair of the audit committee and a member of the nominating and corporate governance committee. Prior to joining the Children’s Place board, Lipschitz served as the EVP and cfo of Toys "R" Us from 1996 until his retirement in 2004.