Under the agreement, signed on March 22, Charney will continue to serve as CEO for an initial term of three years, beginning April 2, 2012. The agreement further stipulated that it will automatically extend for successive one-year periods after that term, unless stated otherwise.
The announcement comes after several positive moves by the company since the beginning of the year. After a difficult 2011, the company has reported three successive months of increased sales, including substantial increases in the wholesale business. American Apparel also announced two high-level appointments in February.
- Companies:
- American Apparel
- People:
- Dov Charney
Kyle A. Richardson is the editorial director of Promo Marketing. He joined the company in 2006 brings more than a decade of publishing, marketing and media experience to the magazine. If you see him, buy him a drink.