How Long Does It Take to Fire Dov Charney?

shiiirtsGood question! Glad you asked, given that the reason is at least partly because he “had allowed an employee to post naked photographs of a former female employee who had sued him.”

On Wednesday, just after the company’s annual meeting, Mr. Charney sat in a conference room at the Times Square offices of the company’s outside counsel, Skadden, Arps, Slate, Meagher & Flom, and was fired by the board. Under the terms of his contract, Mr. Charney will be suspended immediately and formally terminated after 30 days. The directors also voted to remove him as chairman. Mr. Charney still owns 27 percent of the company’s stock.

A person with direct knowledge of the meeting said that Mr. Charney was shocked and that the meeting lasted more than nine hours.

So, approximately thirty days and nine hours.

Photo by Juan José Richards Echeverría