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TMFBane (25.37)

CEO to CFO: You're a Loser



May 23, 2008 – Comments (3) | RELATED TICKERS: APPCQ

I came across this unusual tale in the WSJ this morning.

Apparently the CEO of American Apparel called his CFO a 'complete loser' recently. The CFO then resigned. As you might expect (hope?).

Full disclosure: I know absolutely nothing about this company. But that anecdote alone -- along with some of the other tidbits mentioned in the article -- make me reasonably confident that this will not end well.

3 Comments – Post Your Own

#1) On May 23, 2008 at 9:33 AM, LordZ wrote:

O please, someone resigning because someone else called them the L name ???? are you kidding me. 

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#2) On June 03, 2008 at 7:47 PM, unbelievable22 (< 20) wrote:

Being called a name is not the ONLY reason why the CFO resigned. One will not understand the environment if not experienced. Being constantly belittled and made to feel inferior is not an easy thing to take. Moreso from a CEO who is as unprofessional as American Apparel's. The company was built on image, a genius inception of it's CEO/Owner,  consequently, the CEO's demeanor and ways presents an IMAGE that will bring the company down if no change is in yesterday...All I can say is...Good Luck !!!

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#3) On June 04, 2008 at 1:30 AM, justamunki (< 20) wrote:

Which self respecting CFO steps up to the plate now?  One with a kevlar plated ego I'm sure.  Perhaps mr. shockmouth with the FTW persona should tone it down to appease the monied interests.   But then what good would that do?   Publicity and controversy are helping American Apparel ring the till month after month.  Since there is a little FTW in every consumer, it may be a while before the image has a negative effect.

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