American Apparel Board Suspends Dov Charney as CEO
Declares intent to terminate him for cause, names John Luttrell as interim CEO
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American%20Apparel<%2Fa>%20yesterday%20voted%20to%20replace%20Dov%20Charney%20as%20chairman%20and%20notified%20him%20of%20its%20intent%20to%20terminate%20his%20employment%20as%20president%20and%20CEO%20for%20cause.%20It%20is%20expected%20that%20the%20termination%20will%20be%20effective%20following%20a%2030-day%20cure%20period%20required%20under%20the%20terms%20of%20Charney's%20employment%20agreement.%0D%0A%0D%0Ahttps%3A%2F%2Fwww.printandpromomarketing.com%2Farticle%2Famerican-apparel-board-suspends-dov-charney-ceo%2F" target="_blank" class="email" data-post-id="3676" type="icon_link">
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"The board is working with a search firm to identify candidates for the job of permanent CEO and, based on our initial discussions with the search firm, we expect the list of possible successors will be impressive," said Danziger, who has chaired the board's audit committee since 2011.
"We have one of the best known and most relevant brands in the world, with employees who are second to none; I believe we have a very exciting future," said Luttrell. "Our core business—designing, manufacturing, and selling American-made branded apparel—is strong and continues to demonstrate great potential for growth, both in the U.S. and abroad. This new chapter in the American Apparel story will be the most exciting one yet."
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