American Apparel's share prices rise after Dov Charney dismissal
The former founder fires up the stock market
6/22/14, 12:00 PM
American Apparel’s Board of Directors should be pleased with their recent decision to fire founder and CEO Dov Charney as the company's share prices rise
24 hours after American Apparel announced that the founder and CEO of the clothing brand had been fired, the company's share prices have risen by nearly 20 percent. However Charney still owns roughly 25 percent of those shares himself — increasing his shares as well if he decides to sell them.
If the former boss — who was discharged for allegations of misconduct — decides to keep his shares, he will still play a leading role in the future of the company, and will still be able to make key decisions for the American retail giant.
