The retailer’s board will mostly be replaced as Standard General lends up to $25 million to the company. There’s a still a chance Charney could return as CEO.
“You’re on your own, buh-bye, thank you,” Charney said when contacted by BuzzFeed for comment.
The American Apparel founder is sacrificing any future involvement with the company in return for ensuring that new management stays true to the core principles on which it was founded.
The company said the image was posted by an employee who “was born after the tragedy and was unaware of the event.”
It doesn’t look as though Charney will be returning as the CEO of American Apparel any time soon, but he’s found a way to get some of what he wants.
While an American Apparel employee, I spoke out publicly against the company’s ethics and employment practices. Then I got a call from Charney.
Corporate boards will typically tolerate a founder’s eccentricities, and even bad behavior, as long as the business is performing well. But as performance declines, so too does tolerance.
The page appears to have been made by current or former employees. They also can’t spell the new CEO’s name.
Charney, who holds a roughly 27% stake in American Apparel, was approached by supporters after his termination and is discussing board and management changes with them, according to a regulatory filing today.
A source close to Charney says his handpicked American Apparel board turned on him purely for financial reasons, and that they have known about the other factors cited in his termination letter for a long time. The source’s grievances were first aired on Whisper.
Sources dismiss reports the company is up for sale. They say the newly surfaced video of Dov Charney dancing nude with a potential employee wasn’t part of the board’s decision.
Updated: The retailer’s board replaced Charney as chairman and said it intends to fire him “for cause.” A spokesperson declined to comment; Charney won’t talk.
But spoiler alert: It’s only shown on skinny models.
Plus the biggest party schools in every state in the U.S., 25 stores and what they should actually be named, and the never-ending wonders of extreme makeup techniques.
If you don’t make the model dance when shopping online, you’re doing it wrong.
Oren Safdie, a 48-year-old playwright, premiered the play Unseamly in Montreal last month. He tells BuzzFeed, “All my plays touch on people I know in some ways.” Update: American Apparel notes the play is a work of fiction and that CEO Dov Charney loves his cousin.
The clothing company, which posted another annual loss Thursday, said it received a letter from the NYSE saying it’s “not in compliance with the continued listing standards of the Exchange.” It has to submit a plan for how it plans to fix things by March 21.
The controversial 45-year-old American Apparel founder has high hopes for the company despite its recent financial woes. He also says he isn’t stepping down anytime soon and that he doesn’t technically believe in “Made in the U.S.A.”
The picture is accompanied by the tagline “Sexy has no expiration date.”
Trust us, this is what he wants.
At least 34 Olympians and professional athletes announced their support for the effort, according to Athlete Ally and All Out. “We need to take advantage of this Olympic moment,” a leading LGBT advocate said.
Menstrual blood features prominently in the printed tee. So, you know, pretty NSFW.
This song was written ironically. Combining elements from bands like Arcade Fire, the Lumineers, and Vampire Weekend, we wrote and recorded this song in two days, and then we made a video that looks like an Urban Outfitters commercial.
Matching doesn’t have to be passé.
Yes, it’s possible to wear American flags and not look like you washed up from the Coachella cruise. In fact, you can look downright cute.
Last week’s horrific ad via a Lebanon handbag designer was just the latest crime.
The shirt, released for Pride month, reads “Lesbian, Gay, Bisexual, Transgender Pride.”
As NSFW as you’d expect… and then some.