Last week, American Apparel axed its founder, CEO, and 27 percent shareholder, Dov Charney, after an "investigation into alleged misconduct." We couldn't help but wonder: with all of his public idiocy (sexual harassment, labor law violations, slurs, and most damning of all: unprofitability), what caused the company to finally pull the trigger, five years too late?
From the reports? Not a whole lot more than we already knew about, including sexual misconduct, as well as a few allegations of personal use of company resources. The real surprise was the way the termination played out: a ten-hour meeting with Charney and an ultimatum: resign or be fired for cause.