Dov Charney has been ousted from American Apparel
The controversial CEO of American Apparel has been suspended from his positions in the company
Dov Charney, former president and CEO of American Apparel, has been suspended from his positions in the company. The board of directors voted to replace him as chairman and terminate his employment; the termination will be effective following a 30-day period.
The main reason for Dov Charney's suspension is the ongoing investigation into his alleged misconduct. "We take no joy in this, but the Board felt it was the right thing to do," Allan Mayer, one of the new co-chairmen who will replace Dov Charney, said. "Dov Charney created American Apparel, but the Company has grown much larger than any one individual and we are confident that its greatest days are still ahead."
John Luttrell, the executive vice president and chief financial officer of American Apparel, will temporarilty replace Dov Charney as interim chief executive officer. The board of directors is currently reviewing candidates for the permanent CEO position.