The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
LOS ANGELES, United States — American Apparel Inc. director David Danziger, who had served as co-chairman until December, resigned from the board on Sunday, part of a shake-up that followed a settlement with shareholder Jeffrey Kolb.
The move clears the way for Chief Executive Officer Paula Schneider to take his spot, the Los Angeles-based retail chain said in a regulatory filing. The company also will seek another independent director as part of an agreement last week with Kolb, who had threatened to start a proxy battle for board seats.
The Kolb tussle was part of a broader fight with American Apparel founder and ex-CEO Dov Charney, who has been trying to reassert control at the company since his ouster last year. Kolb previously worked for Charney and was seen as his ally in a potential proxy contest.
American Apparel is engaged in a separate legal showdown with Charney over his firing. The company has accused him of launching a “scorched earth campaign” to retake control of the retailer, in violation of an agreement covering his departure. Earlier this month, a judge ordered Charney to muzzle his criticism of American Apparel.
ADVERTISEMENT
Danziger had served as co-chairman alongside Allan Mayer until about six months ago, when they ceded the role to Colleen Brown.
By Nick Turner; editor: Molly Schuetz.
Discover the most exciting career opportunities now available on BoF Careers — including jobs from Tapestry, Alexander McQueen and Toteme.
A US regulator has banned most uses of the clauses, which started as a way for fashion companies to prevent senior executives from walking off with trade secrets, but have become a standard retention tool.
Check out this week’s new partners and openings on BoF Careers, the global marketplace for fashion talent.
BoF Careers provides essential sector insights for fashion designers this month, to help you decode fashion’s creative and commercial landscape.