American Apparel Might Just Keep Dov Charney

Dov Charney, while chairman and CEO of American Apparel Inc., at a retail store in New York in 2010 Photograph by Keith Bedford/Bloomberg

American Apparel had a tumultuous summer, as you may remember. The board of directors ousted the company’s founder and chief executive, Dov Charney, surprising a lot of people, especially Dov Charney. He fought back against the accusations of misconduct. A hedge fund called Standard General stepped in. Five of the seven board members resigned, and Charney stayed on as a consultant. Standard General said a group of board members, called the Suitability Committee, would determine Charney’s fate after independent investigators presented their results. The hope was to have everything more or less sorted out by September.

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