American Apparel, Inc. said Ken Cieply, the companys CFO, has stepped down to pursue other opportunities. Effective immediately, William T. Gochnauer has joined the company as interim CFO.
Prior to American Apparel, Gochnauer had been Interim Chief Financial Officer at Red Envelope, Inc., a publicly traded national catalog and online retailer of upscale gifts, since 2006. From 2005 to 2006, Gochnauer had been a financial consultant at Excelligence Learning Corporation, a publicly traded national manufacturer and distributor of early childhood and learning products. During 2005, he was also interim CFO of RF Industries Ltd., a publicly traded, national manufacturer and distributor of electronic components. Gochnauer began his career in public accounting at KPMG, is a CPA, and has held CFO and controller positions at a number of public and private companies over the course of a career that spans more than 35 years.
Cieply has agreed to make himself available to assist in the transition. Cieply has over 20 years of experience in textile and apparel related businesses, and was a key member of the executive team that led Gildan Activewears successful initial public offering in 1998. Cieply joined American Apparel in June 2006.
American Apparel also announced that it has retained Berglass + Associates, an executive search firm with more than 25 years of experience and a focus in the consumer goods sector, to help identify a permanent CFO. In anticipation of Cieplys departure, American Apparel has been interviewing candidates for the CFO position for the past several months. The company expects to announce the appointment of a permanent CFO in the next three to six months.
Dov Charney, American Apparels CEO stated, “Were very pleased that Bill Gochnauer is joining us to assist in our transition in being a public company. Bills extensive experience with SEC reporting and Sarbanes-Oxley compliance will be an enormous help. With him onboard, we will be able to more quickly build out our accounting staff to support the companys increased reporting responsibilities and the future growth of our business.”
Charney continued, “Ken Cieply played an important role in getting American Apparel to where it is today. His impressive pedigree in apparel was a key reason I asked him two years ago to come down to Los Angeles to help take our business to the next level. With American Apparel now having become a public company, we wish Ken well in his future endeavors as he returns to his family and home in Montreal, Canada.”
