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APP Global Compliance Applications Corp

0.005
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
Global Compliance Applications Corp CSE:APP CSE Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.005 0.005 0.01 0 01:00:00

American Apparel Director Resigns

15/06/2015 1:20pm

Dow Jones News


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American Apparel Inc. said Monday that David Danziger, an auditor who had sat on the retailer's board since 2011, resigned and has been replaced by Chief Executive Paula Schneider.

The resignation comes after American Apparel last week reached an agreement with shareholder Jeffrey Kolb, by which he agreed to withdraw two candidates he intended to nominate to the company's board. In turn, the retailer agreed to form an advisory committee that will "provide insights, guidance and strategic input" for its chief executive. American Apparel also agreed to "use reasonable efforts" to identify a new independent director to fill a vacancy before its 2016 annual meeting.

The board shake-ups come as American Apparel continues to tussle with the company's former Chief Executive, Dov Charney.

Last week, the retailer said Mr. Charney agreed to a temporary restraining order granted by a Delaware court. The order prevents Mr. Charney from trying to remove any of the fashion retailer's board members and restrains him from making or prompting any statements that disparage the company or its current, former or future employees, according to the company.

Mr. Charney, who was terminated in December following allegations of misconduct and of violating company policy, has filed a string of lawsuits against his former employer.

Arbitrators have ordered retailer American Apparel to pay more than $3 million to resolve several claims of sexual harassment and defamation against the company and Mr. Charney, according to court documents.

Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com

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