CORRECTED - CORRECTED-UPDATE 1-Children's Place ex-CEO names board nominees

(Corrects last paragraph to clarify that the company's shares closed at $32.31, not $2.29, Friday)

* Ezra Dabah names 3 nominees to Children's Place board

* Says concerned about ability of incumbent board

May 15 (Reuters) - Children's Place Retail Stores Inc (PLCE.O) shareholder and former chief executive Ezra Dabah named three for election to the company's board.

Dabah's nominees will compete against the company's incumbent directors.

"As the largest stockholder of Children's Place, I have become increasingly concerned about the ability of the incumbent board and executive management team to sustain future growth and increase stockholder value," Dabah, who owns about 17 percent of the company's shares, said in a statement.

Dabah, who has previously called for a sale of the company, named Raphael Benaroya, Jeremy Fingerman and Ross Glickman as his nominees.

On May 13, Children's Place, which has not had a permanent CEO since 2007, put forward for re-election to the board Malcolm Elvey, Norman Matthews and PacSun Chief Executive Sally Frame Kasaks.

The company's annual meeting is scheduled to be held on June 26.

Secaucus, New Jersey-based Children's Place's shares closed at $32.31 Friday on Nasdaq. (Reporting by Renju Jose in Bangalore; Editing by Anthony Kurian)