American Apparel Has Finally Had Enough of CEO Dov Charney
Dov Charney, the American Apparel (APP) founder known for strolling through factories in his skivvies, is being ousted from his chief executive seat for alleged misconduct.
The Los Angeles company is not saying what exactly Charney did, although it stands to reason the transgression was greater than an al fresco factory tour. The board of directors said it will fire Charney after a contractually mandated 30-day period. “We take no joy in this, but the board felt it was the right thing to do,” Allan Mayer, the company’s co-chairman, said in a statement. American Apparel’s chief financial officer, Joh Luttrell, has been named interim chief executive. For more, see the full post here.