American Apparel fires CEO

The CEO of the trendy clothing company American Apparel is out.

The company's board of directors suspended Dov Charney Wednesday.

His termination will go into effect in 30 days.

The board said Charney was removed "for cause."

Charney has faced a series of sexual harassment suits filed by employees in recent years.

The board has named the chief financial officer as interim CEO.

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