American Apparel has fired founder and CEO Dov Charney. Canadian born Charney, 45, was unanimously fired because of an “ongoing investigation into alleged misconduct,” according to a statement from the company. The firm did not provide specifics. Charney, known for championing the cause of immigrant workers and U.S. manufacturing also was notorious for his extremely sexual ads featuring young women and several lawsuits alleging sexual harassment.
American Apparel shares are down from an all-time high of about $27 in July of 2007 to about 68 cents Thursday. According to SEC filings, Charney owns 27% of the company’s stock and has a base salary of $800,000 a year.
In an interview with American Public Media’s Marketplace earlier this year, Charney told host Kai Ryssdal that his biggest weakness is himself, saying, “I’m my own worst enemy.”