American Apparel CEO Dov Charney Out

The Board of Directors of American Apparel, Inc. voted to replace Dov Charney as Chairman and notified him of its intent to terminate his employment as President and CEO. It is expected that the termination will be effective following a 30-day cure period required under the terms of Charney’s employment agreement. In accordance with the terms of his employment agreement, the Board intends to request Charney’s resignation as a member of the Board concurrently with the effective time of his termination.

The Board appointed John Luttrell as Interim Chief Executive Officer, who has been with American Apparel since February 2011 and currently serves as Executive Vice President and Chief Financial Officer, and will continue in those positions as well. Prior to joining American Apparel, Mr. Luttrell served as Executive Vice President and Chief Financial Officer of Old Navy, The Wet Seal and Cost Plus.