American Apparel’s acting president, Tom Casey, has resigned a year after joining the struggling retailer.
Company chairman, CEO and founder Dov Charney said on Friday, November 18, that he appreciates Casey’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.”
Casey, who was previously CFO of Blockbuster, joined the troubled brand in October 2010 to work with Charney and key investors to validate the company’s strategy, improve operating discipline and optimize the capital structure.
The company, which was threatened with bankruptcy earlier this year, reported narrowing third-quarter losses earlier this month, with net loss down 24% to $7.2 million on the back of a 5% sales increase to reach $140.9 million.
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