SECAUCUS, N.J. — More than a year after The Children's Place Retail Stores began its search for a new chief financial officer, following the departure of EVP finance and adminstration, Susan Riley, the company has named Steven Baginski as CFO. He will report to Eric Bauer, COO.
Baginski's experience includes most recently serving as CFO of apparel manufacturer Kellwood Company and prior to that serving as chief adminstrative officer at Hercules Tire & Rubber Company. Previously, he spent eight years with Limited Brands, where he held several senior level finance positions, culminating in his role as SVP corporate finance. Prior to Limited Brands, he served in financial roles of increasing responsibility for American Airlines Company and Pepsico, and was CFO of FMC Gold Company, a publicly traded precious metals exploration and production company. Baginski earned his BS degree in operations research and industrial engineering, and his MBA from Cornell University.
"Steve is a seasoned financial executive with a deep knowledge of the retail apparel business," commented Jane Elfers, president and CEO. "In addition to his strong financial background, he has extensive experience in IT, logistics and procurement which makes him a great asset as we continue our focus on operational excellence."
For its most recent quarter, Children's Place reported a comps decline of 2.7% and a drop in income from continuing operations after tax from $32.7 million, or $1.24 per diluted share, to $24.2 million, or 97 cents per diluted share.