01:06 PM EDT, 05/21/2024 (MT Newswires) -- Children's Place (PLCE) said Tuesday that President and Chief Executive Jane Elfers has stepped down and it named board member Muhammad Umair as president and interim CEO, starting Monday.

Umair, who joined the company's board in February, was previously a senior advisor for trade finance fund Origin Funding Partners.

Shares of the company were down 16% in recent trading.

Price: 11.61, Change: -2.21, Percent Change: -15.99