Former Blockbuster Exec Named Acting President of American Apparel
Tom Casey, the former executive vice president and chief financial officer of Blockbuster Inc., was named acting president of American Apparel reporting directly to Chairman and Chief Executive Officer Dov Charney.
“I am excited that Tom is joining American Apparel,” said Charney, in a company statement. “Tom’s team building skills, strategic perspective and senior management experience will help us build a great future for the Company. We believe Tom will be instrumental in our efforts to continue to build our management team and bring additional operating disciplines to the business.”
Casey has more than 24 years experience in financial management and strategic planning. His tenure at Blockbuster ran from 2007 to 2010. Prior to that, he spent 20 years as a financial advisor to companies “undergoing strategic change.” He has also served as managing director for Deutsche Bank Securities Inc., and has held investment banking positions at Citigroup, Merrill Lynch and Dillon Read & Co.
“American Apparel presents a very special opportunity” said Casey, in a statement. “I admire American Apparel’s commitment to creative thinking and fair treatment of its textile and apparel workers. I am intrigued by the international appeal of the brand and the company’s vertically integrated and Made in USA business model. I see American Apparel in the early stages of its development and I believe that my experience can help shape the company’s future.
American Apparel recently amended its credit agreement with London-based Lion Capital. In addition, the investor announced plans to work with Charney to hire new senior executives help manage the company.—Alison A. Nieder
