American Apparel Names New Interim CEO
Also Appoints Hassan Natha As Executive VP And CFO
As first reported in a Breaking News Alert yesterday, Top 40 supplier American Apparel (asi/35297) has named Scott Brubaker as its interim CEO, replacing John Luttrell. The company also appointed Hassan Natha as executive vice president and chief financial officer, and promoted long-time employees Patricia Honda and Nicolle Gabbay to the positions of president of wholesale and president of retail, respectively. The moves were the first officer appointments the company has made since being effectively taken over by equity firm Standard General in July.
Brubaker is a managing director at consulting firm Alvarez & Marsal, and he has served in interim officer and other advisory roles for several specialty retailers and manufacturers. Natha has more than 20 years of experience in finance with both public and private companies, including service as CFO at Fisher Communications Inc. and Jones Soda Company.
Allan Mayer, co-chairman of the board of American Apparel, said the appointments of Brubaker and Natha would bolster the company's senior executive team. "The Board is delighted to welcome Scott Brubaker and Hassan Natha to American Apparel,” Mayer said. "We are confident that their experience and leadership will help the company achieve its goals, and we look forward to working with both of them."
Luttrell, who had been serving as interim CEO and CFO of American Apparel since its ownership shakeup earlier this summer, is resigning from the company, although no reason was given for his resignation. He was named to the interim executive positions after the board of directors removed founder and former CEO Dov Charney, a member of the Counselor Power 50, from his roles. The company has been conducting an investigation into Charney’s actions while he was CEO, and it has not yet said whether he will have an official role with the company moving forward. Charney has, though, been operating as a consultant for American Apparel.
American Apparel ranks as the 14th-largest supplier in the industry, after reporting 2013 North American ad specialty sales of $99.2 million, a 2.5% increase over 2012.