US: The Children's Place opposes nominees in letter
Children's wear retailer The Children's Place Retail Stores is urging shareholders to vote for its nominees to the company's board - and reject those proposed by former chairman and CEO Ezra Dabah.
In a letter sent ahead of the company's 2009 annual meeting on 31 July, the company cites positive analyst comments and calls on stockholders to vote for Sally Frame Kasaks, Malcolm Elvey, and Norman Matthews.
It suggest they reject three nominees of former chairman and CEO Ezra Dabah.
"Since Mr Dabah and his father-in-law Stanley Silverstein are existing members of the board, election of Mr Dabah's three hand-picked nominees would result in his designation of five of nine directors - the majority of the board - and de facto control of the company," The Children's Place said in a statement.
Read the full letter here.
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