In connection with organizational restructuring, Carter's, Inc. announced the departure of Patrick Q. Moore, Executive Vice President, North America Retail. Kendra D. Krugman has assumed responsibility for the Company's North America Retail business in addition to her current responsibilities as Executive Vice President, Merchandising & Design. The Company made this organizational change on February 27, 2023, to better align its merchandising strategies and business processes to improve the customer experience with its brands.

Mr. Moore's separation, effective March 17, 2023, will be treated as an involuntary termination without cause consistent with his existing severance agreement with the Company, a form of which was filed with the United States Securities and Exchange Commission as Exhibit 10.2 to the Company's Annual Report on Form 10-K filed on October 29, 2015. Ms. Krugman joined the Company in 2007 and has served in several merchandising positions, including Senior Vice President, Carter's Brands and Licensing. In 2018, Ms. Krugman joined the Company's Leadership Team as Executive Vice President, Merchandising & Design.