On the heels of officially ousting founder Dov Charney (despite his now-legendary attempts at a reentry), American Apparel has finally filled its board. Paul R. Charron, formerly CEO at Liz Claiborne, has been named chairman of the board, joining Susan Davidson, chief executive of Zac Posen and Scoop, and Bruce Fetter, chief executive of St. John Knits. Other board members include CEO Paul Schneider and three bondholders who took the seats after the company emerged from Chapter 11 in early February.
After announcing the L.A.-based brand was no longer in bankruptcy, Schneider released the statement, “With the enormous debt burden removed, we can now turn our full attention to our strategic turnaround, which will benefit our customers, vendors and employees. Our strategy will focus on: designing fresh products and merchandising; launching new partnerships to grow the e-commerce platform; unveiling progressive advertising and marketing campaigns; investing in brick-and-mortar retail locations in more promising areas; and implementing rigorous planning and forecasting for timely product deliveries and to streamline excess inventory.”