American Apparel (NYSEMKT:APP) has appointed four new directors who will join the two remaining co-chairmen of its old board. The new board will take effect on August 2, after a required 10-day waiting period imposed by securities regulators.
The retailers new future took another interesting turn after the news of RadioShack (NYSE:RSH) CEO Joseph Magnacca's election to the board. Magnacca has served as CEO of the struggling electronics retailer since February 2013.
The new board faces a tough task of deciding whether fired CEO Dov Charney will return to the company in some capacity.