For the second time in four months, there is major change at the top of retail chain American Apparel.
The company said today it has hired 43-year-old Scott Brubaker as interim CEO and 55-year-old Hassan Natha as chief financial officer. Both men take over for John Luttrell, who had been doing both jobs since June and is resigning from the company for unspecified reasons.
It’s been a tumultuous past few months for the retailer, ranked No. 286 in Internet Retailer’s Top 500 Guide. In June, the company’s board fired CEO and founder Dov Charney amid allegations of misconduct, elevating Luttrell to replace him in the interim.
Luttrell joined American Apparel as the company’s chief financial officer in February 2011. A veteran retail executive, Luttrell had previously worked as chief financial officer of Old Navy, The Wet Seal and Cost Plus.
Brubaker and Natha both come from outside the company. Brubaker had been the managing director at advisory firm Alvarez & Marsal in San Francisco. Natha had most recently been chief financial officer of broadcaster Fisher Communications, according to his LinkedIn profile. He had also been the chief financial officer of Jones Soda Co. and vice president of operations for Nike Bauer Hockey.
For the second quarter ending June 30th, the company reported net sales of $299.4 million for the six months ending June 30th, down slightly from $300.2 million for the same period in 2013.)Favorite