Aurora Investment Trust (ARR)

Sector:

Investment Firms

Index:

FTSE Small Cap

245.00p
   
  • Change Today:
      2.00p
  • 52 Week High: 249.00
  • 52 Week Low: 198.00
  • Currency: UK Pounds
  • Shares Issued: 76.25m
  • Volume: 21,307
  • Market Cap: £186.81m
  • RiskGrade: 166

American Apparel to sack CEO after alleged misconduct investigation

By Wahida Swaleh

Date: Thursday 19 Jun 2014

LONDON (ShareCast) - US-based clothing retailer American Apparel has announced plans to sack its Chief Executive Officer (CEO) Dov Charney after an ongoing investigation into "alleged misconduct".

The company has voted to replace the Chairman, who started the group over two decades ago, in 30 days under the terms of his contract, it said in a statement on Thursday night.

American Apparel did not go into details but said that the decision to replace Charney "grew out of an ongoing investigation into alleged misconduct".

However, his exit follows numerous allegations of sexual harassment over recent years.

The stock surged in early trading on Thursday as investors reacted to the news. Shares were 13.3% higher at 72.5 cents by 09:51 in New York.

The firm has appointed its current Chief Financial Officer John Luttrell as interim CEO effective immediately. David Danziger and Allan Mayer were named as Co-Chairmen of the board.

The group, which is known for its risqué advertising, faced legal action in 2011 after a former worker, Kimbra Lo, alleged she was sexually harassed by Charney, the New York Times reported.

Mayer said in a statement: “We take no joy in this, but the board felt it was the right thing to do."

Meanwhile, Danziger said: "Dov Charney created American Apparel, but the company has grown much larger than any one individual and we are confident that its greatest days are still ahead."

"The board is working with a search firm to identify candidates for the job of permanent CEO and, based on our initial discussions with the search firm, we expect the list of possible successors will be impressive."

WS

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

ARR Market Data

Currency UK Pounds
Share Price 245.00p
Change Today 2.00p
% Change 0.82 %
52 Week High 249.00
52 Week Low 198.00
Volume 21,307
Shares Issued 76.25m
Market Cap £186.81m
RiskGrade 166

ARR Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
77.19% below the market average77.19% below the market average77.19% below the market average77.19% below the market average77.19% below the market average
77.7% below the sector average77.7% below the sector average77.7% below the sector average77.7% below the sector average77.7% below the sector average
Price Trend
71.54% above the market average71.54% above the market average71.54% above the market average71.54% above the market average71.54% above the market average
77.78% above the sector average77.78% above the sector average77.78% above the sector average77.78% above the sector average77.78% above the sector average
Income
75.51% below the market average75.51% below the market average75.51% below the market average75.51% below the market average75.51% below the market average
70.67% below the sector average70.67% below the sector average70.67% below the sector average70.67% below the sector average70.67% below the sector average
Growth
67.80% above the market average67.80% above the market average67.80% above the market average67.80% above the market average67.80% above the market average
65.02% above the sector average65.02% above the sector average65.02% above the sector average65.02% above the sector average65.02% above the sector average

ARR Dividends

  Latest Previous
  Final Final
Ex-Div 09-May-24 08-Jun-23
Paid 20-Jun-24 04-Jul-23
Amount 3.45p 2.97p

Trades for 28-Mar-2024

Time Volume / Share Price
11:42 1,536 @ 245.00p
11:15 1,250 @ 243.48p
11:02 5,200 @ 245.53p
11:01 2,030 @ 244.60p
10:59 422 @ 244.61p

ARR Key Personnel

Chair Lucy Walker

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