American Apparel (APP) Names Scott Brubaker as Interim CEO; Hassan Natha Becomes CFO

September 29, 2014 8:32 AM EDT

American Apparel (AMEX: APP) announced the appointment of Scott Brubaker as Interim Chief Executive Officer of the Company and Hassan Natha as Executive Vice President and Chief Financial Officer, effective immediately.

Mr. Brubaker, 43, is a Managing Director at Alvarez & Marsal, and replaces John Luttrell as Interim CEO. He received a bachelor's degree in finance from the University of Illinois and a master's degree in business administration from the Wharton School at the University of Pennsylvania, and has served in interim officer and other advisory roles for several specialty retailers and manufacturers during his 21 years in the industry.

Mr. Natha, 55, who replaces Luttrell as CFO, has more than 20 years of experience in finance with both public and private companies, including service as Chief Financial Officer at Fisher Communications, Inc. and Jones Soda Company. He also spent ten years at Nike's Bauer Nike Hockey, Inc. in various finance and executive operations roles. Natha is a Certified Public Accountant and a Canadian Chartered Professional Accountant. He received a bachelor's degree in Commerce from Concordia University and holds a Graduate Diploma of Public Accountancy from McGill University.

Allan Mayer, Co-Chairman of the Board, said the appointments of Brubaker and Natha would bolster the Company's senior executive team.

"The Board is delighted to welcome Scott Brubaker and Hassan Natha to American Apparel," Mr. Mayer said. "We are confident that their experience and leadership will help the Company achieve its goals, and we look forward to working with both of them."

John Luttrell, who had been serving as Interim Chief Executive Officer and Chief Financial Officer, is resigning from the Company.

"We also want to express our gratitude to John Luttrell for his years of service and many contributions to American Apparel," added David Danziger, Co-Chairman of the Board. "We appreciate his willingness to serve temporarily as Interim Chief Executive Officer of the Company and we wish him success in his future endeavors."

Mr. Brubaker affirmed his support for American Apparel's sweatshop-free, "Made in USA" manufacturing philosophy and commitment to maintain the Company's manufacturing headquarters in Los Angeles.

The Company also announced the promotions of long-time employees Patricia Honda and Nicolle Gabbay to the positions of President of Wholesale and President of Retail, respectively.

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