American Apparel Inc, manufacturer, distributor and retailer of branded fashion apparel, has recently announced the appointment of John J Luttrell as executive vice-president (EVP) and chief financial officer (CFO) with effect from February 7, 2011.
Luttrell, a graduate of Purdue University, was EVP and CFO of Old Navy Inc from 2007 to 2008. Prior to Old Navy, he was EVP and CFO of Wet Seal Inc from 2005 to 2007; From 2001 to 2005, he was CFO of Cost Plus Inc.
“I am pleased with the depth that we are continuing to add to our management team,” said Dov Charney, chief executive officer, American Apparel. “Luttrell will be a welcome addition to our management team as we perfect our operating procedures and improve efficiency and financial performance.”
On his appointment as EVP and CFO of the California-based apparel company, Luttrell said, “I am very impressed with the unique business model that American Apparel presents, and in many ways one could argue that its vertically integrated business strategy of bringing together manufacturing, distribution, and retailing under one umbrella is ahead of its time.”
He added, “My challenge is to leverage the existing business model by engaging in intelligent cost cutting and providing a platform for the business to accelerate top-line growth.”
The company also announced that the current CFO, Adrian Kowalewski, is being named EVP, corporate strategy.
Charney continued, “I want to thank Kowalewski for his efforts over the past two years, stepping into the CFO role during a transitional period in the depths of the credit crunch in late 2008. Since joining American Apparel in 2006, he has been an indispensable partner to me in many areas of the business, including his role in financing the company’s earlier growth as a private company, leading to American Apparel becoming a public company in 2007.”
Kowalewski, who has served on the company’s board of directors since 2007, will continue to remain on the board.
– IndiaRetailing Bureau
