American Apparel Fires Founder Charney, Names New CEO

American Apparel has fired founder Dov Charney and named longtime fashion executive Paula Schneider to be its next CEO. The Los Angeles-based company's board voted to oust Charney as CEO in June, citing allegations of misconduct. He was put under suspension, but still served as a consultant to the company. American Apparel said Tuesday that it has terminated his position "for cause" after an internal investigation. Messages left with a lawyer who has represented Charney this year were not immediately returned.