fired its founder and chief executive officer Dov Charney, ending a six month period of uncertainty.
Charney’s tenure at the fashion label was awash with allegations of sexual assault and misconduct. On 18 June the board of American Apparel suspended Charney for allegedly misusing funds and helping to spread nude photographs of a former employee. Since then, Charney served as a paid consultant to the business.
A deal that would have helped Charney remain at American Apparel fell through in December.
“I’m proud of what I created at American Apparel and am confident that, as its largest shareholder, I will have a strong relationship with the company in the years ahead,” Charney said in an emailed statement.
“Naturally, I am disappointed with the circumstances,” he added.
Paula Schneider will take over as chief executive from 5 January