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