Dive Brief:
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American Apparel has appointed Colleen Brown, an experienced media executive with a track record of turning companies around, as its first female board member, according to a Wednesday regulatory filing.
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Three other new board members were also announced, including RadioShack CEO Joseph Magnacca, hedge fund Standard General partner David Glazek, and Media General director Thomas J. Sullivan.
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Standard General had a hand in all four appointments, as it now has a controlling interest in the company. The hedge fund can choose yet another member to the board, according to the filing.
Dive Insight:
With these additions to American Apparel’s board, the shake-up at the company continues. But the appointments could be the beginning of the end of the drama. Appointing its first female member is an act that's been a long time coming, considering American Apparel's reputation and ousted CEO and founder Dov Charney’s alleged sexual antics.
Charney's fate still hangs in the balance: Although Standard General has been working closely with him, the firm has made no indication that it aims to reinstate him as CEO.
