November 18, 2011

American Apparel Announces Resignation of Tom Casey as Acting President

LOS ANGELES--(BUSINESS WIRE)-- American Apparel, Inc. (NYSE Amex: APP), a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel, announced today the resignation of Tom Casey as Acting President of the Company. Mr. Casey was appointed in Oct. 2010 to work with Dov Charney and key investors to validate the Company's strategy, improve operating disciplines and optimize the capital structure.

"In the past 12 months, we have executed on our strategic plan, improved sales and financial performance and enhanced our financial flexibility," commented Dov Charney, Chairman, CEO and founder of American Apparel. "I appreciate Tom's substantial contributions to our success and his help in shaping the Company's future. Tom is a highly capable senior executive and I wish him well in his future endeavors."

"It has been a pleasure working with Dov and his team," commented Casey. "Dov is a rare talent in apparel retail and his hands on drive and energy are inspiring. Dov has created one of the most innovative companies in apparel retailing with a unique business model, loyal customer base and commitment to American manufacturing."

Tom Casey has over 25 years' experience in executive management and financial advisory roles. Mr. Casey serves on the Board of Directors and the Audit Committee of The Great Atlantic and Pacific Tea Company, Inc. He served as Executive Vice President and Chief Financial Officer of Blockbuster Inc. from September 2007 through August 2010. Prior to Blockbuster, Mr. Casey served for 20 years as a financial advisor to companies undergoing strategic change in the retail and consumer products industry. Mr. Casey served as Managing Director and head of the Retail Group for Deutsche Bank Securities, Inc. and held investment banking positions with Citigroup, Merrill Lynch and Dillon Read & Co. Mr. Casey has a Bachelor of Science degree in Ocean Engineering from The U.S. Naval Academy and received his MBA from Harvard Business School.

About American Apparel

American Apparel is a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel based in downtown Los Angeles, California. As of September 30, 2011, American Apparel had approximately 10,000 employees and operated 247 retail stores in 20 countries, including the United States, Canada, Mexico, Brazil, United Kingdom, Ireland, Austria, Belgium, France, Germany, Italy, Netherlands, Spain, Sweden, Switzerland, Israel, Australia, Japan, South Korea, and China. American Apparel also operates a leading wholesale business that supplies high quality T-shirts and other casual wear to distributors and screen printers. In addition to its retail stores and wholesale operations, American Apparel operates an online retail e-commerce website at http://www.americanapparel.net.

For American Apparel:
ICR Inc.
John Rouleau, 203-682-8342

Source: American Apparel, Inc.

News Provided by Acquire Media


Close window | Back to top

Copyright 2014 American Apparel