John Luttrell as EVP, CFO of American Apparel
American Apparel Inc, a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel, announced that it has appointed John J. Luttrell as Executive Vice President and Chief Financial Officer, effective February 7, 2011.
Mr. Luttrell was previously Executive Vice President and Chief Financial Officer of Old Navy Inc. from 2007 to 2008. Prior to Old Navy, Mr. Luttrell was Executive Vice President and Chief Financial Officer of Wet Seal, Inc. from 2005 to 2007; and prior to that he spent approximately five years from 2001 to 2005 as Chief Financial Officer at Cost Plus, Inc. Mr. Luttrell is a graduate of Purdue University.
"I am pleased with the depth that we are continuing to add to our management team," said Dov Charney, American Apparel's Chief Executive Officer. "John has demonstrable past success with building and improving management infrastructure, including a history of building world class finance and accounting teams through careful development of existing talent. He will be a welcome addition to our management team as we perfect our operating procedures and improve efficiency and financial performance."
"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," said John Luttrell. "Having had experience in rapidly growing retail environments, I have great respect for the organization that has been built at American Apparel. Without question the company has undergone some unprecedented challenges that have impaired its recent financial performance. 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 sales growth."
The company also announced that current Chief Financial Officer, Adrian Kowalewski, is being named Executive Vice President, Corporate Strategy. Mr. Charney continued: "I want to thank Adrian 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.
His contributions have helped create and preserve thousands of manufacturing jobs in downtown Los Angeles. Given his work ethic and integrity, I do not think anyone would have been capable of doing a better job in this role during this period of time. I look forward to his involvement in the many important operational roles he will play in the future." Mr. Kowalewski, who has served on the company's board of directors since 2007, is also remaining on the board.
American Apparel Inc