There has been a lot of back and forth between American Apparel and Dov Charney, but alas, it looks like Charney has a job at the company again.
Charney, former CEO of American Apparel, is now the "strategic consultant," according to New York Magazine's The Cut. He was given the new title after he bought nearly half of the company, with help from New York hedge fund Standard General. The agreement between AA, Charney, and Standard General will bring a reported $25 million investment in the clothing company.
"They control the shares," Charney Bloomberg Businessweek. "I’m a bystander. My first issue is to save people’s jobs, put the company into a stable financial situation. And then we’ll evaluate whether or not I’ll be the janitor or the CEO or the consultant. … I believe Standard General will treat me fairly.”
American Apparel is still looking into Charney's allegeded misconduct, which is what he was fired for last month. Stay tuned for how this pans out.
[via The Cut]