The move means that the company, known for sexually explicit ad campaigns and a founder frequently accused of sexual harassment, will now be run by women: Paula Schneider was named CEO last month.
“It’s time to focus on the work ahead of us and push this company to reach its full potential,” said Brown, who joined the board in August. “This is a pivotal moment for American Apparel, and I believe the company is poised for a significant turnaround. It will be very rewarding to work with an executive of newly appointed CEO Paula Schneider’s caliber, and I thank Allan and David for their diligent efforts as co-chairmen of the board.”
Added Schneider, “I’m looking forward to working with Colleen — we have the same commitment, work ethic, and goals for American Apparel.”
“For the good of the company, we pushed hard for Colleen to take the post, and we’re delighted she has,” said Mayer. “She and Paula Schneider have powerful and complementary expertise that will be invaluable to American Apparel. Both women are strong leaders, and together they will be a tremendous force for growth and positive change at American Apparel.”
The board acknowledged the acquisition offer reported last month and said it would be evaluating it.