Hiring Lawyer As CEO A Good Way To Start Sales Rumors

American Apparel, the troubled retailer who has lately lost two noteworthy execs, has sparked sales rumors by hiring as CEO a lawyer with a background in mergers and acquisitions. Chelsea Grayson, who has served as general counsel for two years, will now step into the CEO role after Paula Schneider, brought on last year to turn the company around, decided to leave. That loss follows on the heels of the departure of Chairman Paul Charron. Observers haven’t entirely ruled out the possibility that notorious founder, and former chairman and CEO, Dov Charney, could emerge as a buyer, yet again.