Former American Apparel CEO Dov Charney, who had been serving as a "strategic consultant" for the brand since July, has been officially fired from the company. The termination comes after the company conducted an internal investigation into Charney's activity. 

Although the company has not given a specific reason, there are a litany of viable reasons that Charney could have been let go. During his time with American Apparel, Charney had a slew of sexual harassment lawsuits brought against him, and was sued by an employee for using homophobic and anti-semitic slurs

Following his firing, a member of the board released this statement: "We're pleased that what we set out to do last spring—namely, to ensure that American Apparel had the right leadership—has been accomplished."

Paula Schneider, a former executive with BCBG, will replace Charney starting Jan. 5. The company has already seen its stock rise seven percent since the announcement of Charney's termination. 

[via CNBC]