BUZZ-American Apparel Inc: Names new CEO, ends relation with Charney

Tue Dec 16, 2014 6:16pm EST
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** Clothing and accessories retailer's shares up 13.7 pct at $0.66 in extended trading

** Company names Paula Schneider as chief executive, effective, Jan. 5, 2015

** Terminates relationship with founder Dov Charney, who was a consultant after being removed as CEO and president in July for alleged misconduct

** Up to Tuesday's close, the stock had fallen nearly 53 pct this year