Children's clothing retailer Carter's Inc announced that Ross Jones, Managing Director of Berkshire Partners LLC, a Boston-based private equity firm, has resigned from the company's Board of Directors effective as of the end of the Board of Directors meeting immediately following the company's May 11th 2006 annual meeting of stockholders.
"It has been my great privilege to serve on the Carter's Board and to work closely with Carter's management during the last five years," said Jones. "While I am moving on to focus on other Berkshire Partners' companies, I look forward to following Carter's future success."
Fred Rowan, the company's Chairman and CEO, said, "Ross's contribution to Carter's over the last five years has been invaluable."
"Carter's has benefited significantly from its relationship with Ross and Berkshire Partners. We wish Ross all the best in pursuing new investment opportunities," he added.
Berkshire Partners acquired the company on August 15th 2001. At the time of the acquisition, Jones and Bradley Bloom, also a Managing Director of Berkshire Partners, became members of the company's Board of Directors. Since the acquisition, Berkshire Partners has reduced its ownership of the company's common stock to approx. 13 percent. He will continue to serve on the company's Board of Directors.
Carter's Inc is the largest branded marketer in the United States of apparel exclusively for babies and young children. Carter's markets its Carter's and OshKosh B'Gosh brands, two of the most trusted and recognized brands in the marketplace.
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