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American Apparel ousts CEO Dov Charney amid misconduct allegations




In this handout image provided by American Apparel, CEO of American Apparel Dov Charney poses for a photo on undated in Los Angeles, California.
In this handout image provided by American Apparel, CEO of American Apparel Dov Charney poses for a photo on undated in Los Angeles, California.
Handout/Getty Images

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Dov Charney had been the president and CEO of American Apparel, a massive L.A.-based clothing company the Canadian businessman founded in 1989.

But on Wednesday, the company's board of directors voted to replace him, citing the numerous lawsuits and allegations of misconduct for years.

RELATED: American Apparel board votes to oust CEO Charney

For more on his ouster and where this leaves the retailer, we're joined now by CNBC Business News Reporter, Jane Wells.