Update: American Apparel Names New CFO

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Editor’s Note:

This story has been corrected from the original.


American Apparel Inc. said Monday it promoted Adrian Kowalewski to chief financial officer to succeed Ken Cieply, who left the company in May.

Kowalewski, who will continue to serve as director of corporate finance and development and as a board member, now will also be responsible for financial management, accounting and reporting. The appointment is effective immediately and includes the title of executive vice president.

Kowalewski, 31, who joined the company in 2006, has been a director since completion of a “blank-check company” merger with Endeavor Acquisition Corp. last December.

Cieply resigned weeks after Chief Executive Dov Charney called him a “complete loser” in a March interview with the Wall Street Journal.

The Los Angeles manufacturer and retailer of trendy apparel about a week and a half ago extended the deadline for its credit facility but at tougher terms.

In addition, the company has faced several lawsuits from disgruntled former employees. At least three have come from women who accused Charney of sexual harassment. But two suits came from men who claim they were pressured, either directly by Charney or with his knowledge, to commit or cover up financial improprieties. The company has called allegations in all the suits “fiction,” and has sued some of the former employees.

American Apparel’s stock closed down 27 cents, or 15 percent, to $1.55 on the American Stock Exchange.

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