American Apparel Names New CFO
American Apparel has promoted Adrian Kowalewski to executive vice president and chief financial officer.
Kowalewski has worked at the Los Angeles–based vertically integrated manufacturer/retailer since 2006, when he joined the company as director of corporate finance and development. In December 2007, Kowalewski was named to American Apparel’s board of directors at the time of the company’s merger with Endeavor Acquisition Corp. In his new role, Kowalewski will be responsible for financial management, accounting and financial reporting.
The company has been without a permanent chief financial officer since May 2008, when Ken Cieply left the post. William Gochnauer, the former interim chief financial officer for RedEnvelope.com, was named as the interim chief financial officer. At the time, headhunter Berglass + Associates was hired to find candidates for the job.
“The board of directors is very pleased that Adrian has agreed to take on the added responsibility of serving as CFO,” said Dov Charney, chief executive and chairman, in a statement. “In light of his past contributions to American Apparel and his efforts over the past six months in helping to build the accounting and finance functions at the company, both I and the rest of the board have full confidence that he will serve the company well in this new leadership role.”
Before joining American Apparel, Kowalewski worked in mergers and acquisitions at the investment banking firms of CIBC World Markets, Houlihan Lokey Howard & Zukin and Lazard Fregrave;res & Co.
Following the announcement of Kowalewski’s promotion, American Apparel’s shares fell to an all-time low, trading at $1.55 per share at market close on Dec. 29. The company employs more than 10,000 people and operates more than 240 retail stores in 19 countries. —Erin Barajas
