American Apparel named turnaround exec Scott Brubaker as its new interim CEO, its second interim chief since the retailer ousted controversial founder Dov Charney three months ago.
The Los Angeles clothing company, whose board suspended Charney June 18 over alleged misconduct, said it has additionally hired former Nike exec Hasan Natha as its new chief financial officer.
Brubaker, a 43-year-old managing partner at consulting firm Alvarez & Marsal, and Hasan will replace John Luttrell, the company's financial chief who added the interim CEO role immediately following Charney's ouster.
Luttrell, who formerly did stints at Wet Seal and Old Navy, had clashed with Charney last year over the botched rollout of a distribution center, insiders said.
Natha, 55, was formerly CFO at Fisher Communications, a Seattle-based TV network affiliate formerly headed by Colleen Brown, who last month became American Apparel's first female director.
"We are confident that their experience and leadership will help the company achieve its goals," Allan Mayer, co-chairman of the board, said in a statement.
In June, Mayer led a board coup against Charney that accused him of "willful misconduct," charging that he failed to prevent an employee from posting nude pictures online of an ex-American Apparel worker who had accused Charney of sex harassment.
In the ensuing melee, the retailer replaced all but two of its board members as part of a deal with New York investment firm Standard General LP.
The New York hedge fund, which partnered with Charney to amass a 44-percent stake, extended the company a $25-million financial lifeline.
Standard General hasn't taken a side in the dispute over whether Charney should be allowed to return as CEO. A board committee hasn't yet ruled on the results of its investigation into Charney.
American Apparel has lost about $270 million in the last four years, leaving it with a heavy debt load. In March, it sold $28.6 million in stock to meet an interest payment.
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