American Apparel has just announced the first new hire of their "realignment strategy," WWD is reporting. Tom Casey, the former CFO of Blockbuster, has been named president of the embattled company,
He'll report to CEO Dov Charney and will be responsible for developing the company's operating strategy. American Apparel is on the brink of bankruptcy, so maybe it was a wise move to hire Casey to oversee operating strategy, as he's got some experience in dealing with a company on the brink (Blockbuster filed for Chapter 11 last month, just after Casey left the company.) He's also got 24 years of management experience.
Things keep looking up for the retailer. Just last week, American Apparel's lender, Lion Capital, announced they would give the retailer some time to revamp operations, including making new hires (like Casey) to increase profitability. And if we're to infer anything from American Apparel's new ads starring the company's fearless leader working away on his laptop, it's that Charney's getting down to business, too. Of course, his business is conducted in bed. Where he is flanked by young women. Some things will never change.