After Los Angeles-based American Apparel’s restructure plan was approved in court—albeit after contention from founder and former CEO Dov Charney—the company has moved out of bankruptcy and announced that it has appointed Paul R. Charron, former CEO of Liz Claiborne, as its chairman.
According to the Los Angeles Times, Charron is joining American Apparel’s seven-seat board along with two other retail industry professionals—Susan Davidson, CEO of Zac Posen and Scoop, and Bruce Fetter, CEO of St. John Knits.
Paula Schneider, who took over as CEO in 2014, also will serve on the board. The remaining board members are the bondholders who took control of the company when it was taken private as a guideline of its restructuring plan.
The Los Angeles Times reported that American Apparel’s president of wholesale, Brad Gebhard, said in a letter to wholesale customers, that the company entered ” a new phase as a privately held company.”
Charron also has served as a senior advisor at Warburg Pincus, a private equity firm, and spent six years as a chairman of the board of Campbell Soup Company, Fortune reported.
For more information on American Apparel, visit www.americanapparel.net/wholesale. Also, check out our feature on the company’s history and restructuring.
