Dov Charney, American Apparel’s CEO and founder was fired by the Board of Directors. Even if they were in doubt, the company’s latest share prices should have already convinced them that firing him was a wise decision. American Apparel’s share prices have risen by nearly 20 percent. Charney still owns the 25% of said shares himself, so he will benefit if he decides to sell up. On the other hand, if he decides to keep his shares, his role concerning the company’s future will be dominant when it comes to key decisions.
