Connect with us

Hi, what are you looking for?

Jewish Business News

Business

Brother, Can You Spare Dov Charney a Dime?

 

Dov Charney,   chairman and chief executive officer of American Apparel.

Dov Charney, founder and disgraced former CEO of American Apparel may be headed toward skid row. He said in an interview with Bloomberg that he is down to his last $100, 000 and is sleeping on a friend’s sofa in the Lower East Side. It was announced last week that he would be ousted as a consultant after having been demoted as CEO. Allegations of sexual harassment arose last June, but it was reported that he was generally unreliable and unstable, and after an investigation, it was determined he would not be re-instated as CEO.

Charney received an $800, 000 annual salary when he was CEO and the company was valued in a range of $226 million and $243 million. Charney blames Standard General who loaned him money so he could fight a battle with the company he founded to regain his authority, but Standard General decided to put its own  members on the board, several of whom were not sympathetic to Charney. “I gave them my entire life’s work, and they agreed to put me back in. Instead, they used this investigation to fire me.”

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Newsletter

Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

empty

The contract signed between the Israeli government and Pfizer shows clearly and unequivocally that this is a clinical study on humans - The agreement...

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Advertisement
cialis cialis satış