What Pushed American Apparel to Oust CEO Charney?

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June 19 (Bloomberg) -- American Apparel replaced CEO Dov Charney, who has faced accusations of sexual harassment, after an investigation into unspecified misconduct at the casual clothing maker he founded. Lindsey Rupp has more on "Taking Stock." (Source: Bloomberg)

Lindsey rupp has the details.

He is the founder of the company with a colorful and controversial record.

What finally pushed the board to oust him?

That is the big question.

The new chair says that it wasn't because of the company performance.

It was purely a misconduct issue.

Some people in the industry, his coworkers think he is a been a visionary, others think he is a loose cannon that never should have led a public company.

Looks -- let's talk about american apparel three what makes it distinctive other than its products are made in the united states in los angeles?

One of the problems are lack of diphtheria she asian.

It is struggling right now.

It is a hard time to be a teen retailer.

American apparel has to go.

The margins have to be thin as well.

They are struggling on that front.

What about the controversy of advertising and the various comments that he has made public over the last couple of years.

He has been accused of sexual misconduct before.

That has made great headlines in the tabloids.

He has not been found guilty.

The shares were up 6.5%. if you're an investor in american apparel, short-term it may sound good.

Long-term it has lost value.

People are saying if you believe in the value of the company brand him and now may be a great time to come in.

The largest outside investor, he

This text has been automatically generated. It may not be 100% accurate.


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