New York -- American Apparel Inc. announced four new directors to its board, including the company’s first-ever female board member, Colleen Brown, a former CEO of Fisher Communications, and former Walgreens executive Joseph Magnacca, who took the reins as CEO of RadioShack last year.
The other new directors are David Glazek, a partner with hedge fund Standard General, which holds a nearly 44% stake in American Apparel, and Thomas J. Sullivan, a director of Media General.
The four new directors will join existing board members Allan Mayer and David Danziger, who will stay on as co-chairmen of the board. The new board will take their seats on Aug. 2.
The new board slate is the result on an agreement between American Apparel and Standard General.
“This slate of directors brings significant financial, retail, and corporate turnaround expertise to the board," Glazek said in a statement.