American Apparel CEO Ousted

    Dov Charney, chairman and chief executive officer of American Apparel Inc., stands for a portrait in a company retail store in New York, U.S., on Thursday, July 29, 2010. Starting the company in a dorm at Tufts University in Medford, Massachusetts, Charney built a worldwide empire of 280 clothing stores by leaping out ahead of mainstream fashion. He personified the racy, risk-taking aesthetics of his business and is now facing the consequences - skittish lenders and investors who doubt his ability to oversee his own creation. Photographer: Keith Bedford/Bloomberg via Getty Images *** Local Caption *** Dov Charney


    Dov Charney, the founder and CEO of American Apparel, was ousted Wednesday from the company for “alleged misconduct.” Charney has long been the subject of rumors and accusations about alleged sexual harassment. In addition, American Apparel as a company has struggled recently, selling stock to raise cash for creditors. “The board’s decision to replace Mr. Charney grew out of an ongoing investigation into alleged misconduct,” the company said.

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