June 18 Clothing retailer American Apparel Inc
fired its founder Dov Charney as chairman and chief
executive following an ongoing investigation into alleged
misconduct, and said it appointed an interim CEO.
The company said Charney was terminated as chairman and
suspended as CEO with immediate effect pending expiration of a
30-day cure period.
American Apparel appointed John Luttrell interim chief
executive effective immediately and said he will continue to
serve as chief financial officer.
The company's board also appointed Allan Mayer and David
Danziger as co-chairmen.
"We take no joy in this, but the board felt it was the right
thing to do," Mayer said in a statement.
(Reporting by Sampad Patnaik in Bangalore; Editing by Gopakumar