American Apparel CEO to Exit Company
Another one bites the dust at American Apparel. CEO Paula Schneider is the latest in the retailer's management casualties. She will be replaced by Chelsea Grayson, American Apparel's general counsel and chief administrative officer. Schneider is voluntarily resigning her position, effective Oct. 3, according to Women's Wear Daily. Schneider joined American Apparel two years ago after Dov Charney was forced out. Why she is leaving the company remains unclear, but comes at a time when American Apparel explores a possible sale of the business.
Total Retail's Take: American Apparel keeps taking hits. In addition to the fallout with Charney, the company is still trying to recover from its bankruptcy filing earlier this year. Schneider hinted that the pending sale of American Apparel is a reason for her resignation. This announcement comes on the heels of the recent departure of American Apparel board member Paul Charron. I'm curious to see what these changes mean for American Apparel's future.