Thanks for voting for us. Now you're fired!
American Apparel's new co-chairmen — who assumed their roles last week after leading the surprise ouster of founder Dov Charney as CEO — had won the support of Charney just minutes earlier in their reelection to the board, a Tuesday securities filing showed.
That's because Charney, who owns a 27-percent stake in the embattled clothing retailer, was eerily oblivious to their mutinous plot, which sprung into action immediately following the retailer's annual meeting on June 18, insiders said.
Allan Mayer and David Danziger were reelected for new, three-year terms, with 95 percent and 92 percent of votes cast, respectively, the securities filing showed.
Chief Financial Officer John Luttrell — who was made interim CEO last week — had been unusually aggressive in making sure Charney voted his shares during the preceding days, sources said.
In addition to sending an online proxy form for Charney to sign, Luttrell asked the controversial founder to sign a hard copy, the sources said. Luttrell also specifically told an assistant to make sure Charney vote "yes" to reelect the directors, the sources said.
Luttrell hadn't displayed noticeable interest in his boss' vote in previous board elections, according to two sources. Then, hours before the meeting, the CFO failed to return repeated phone calls from Charney, a source close to the ousted CEO said.
Looking to throw cold water on any thought Luttrell was in on the coup, a source close to the board noted that general counsel Glenn Weinman had previously pressed Charney to vote his share.
But Weinman had recently been fired.
Luttrell was given a 70 percent raise plus 350,000 American Apparel shares upon being named interim CEO.
"If somebody's suggesting that [Luttrell's action] is part of a cabal, that's totally off base," Mayer said.
Separately, Mayer said the board has hired FTI Consulting to aid a probe of Charney, who has been accused, among other things, of allowing an employee to create a blog in 2011 showing nude photos of Irene Morales, who had sued Charney for sexual harassment.
Charney denies he knew about the blog, sources said.
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