Robert Mintz leaves American Apparel board

American Apparel, Los Angeles based retailer, officially confirmed Robert Mintz has resigned from the board.

Mintz, a former food company executive, joined the company last year. He was appointed to the company by Lion Capital, a London private-equity firm. Dov Charney, founder of American Apparel, was fired in December due to misconduct. Mintz then became a director, but only stayed with the company for less than a year.

The business stated in a Securities and Exchange Commission filing that Mintz had resigned earlier this month, declining to comment on his motive for exiting.

Lion Capital controls one board seat due to warrants purchased in exchange for a stake in the American Apparel company. As a replacement, Jeff Chang from Lion Capital is set to start at American Apparel. In regards to career changes, Paula Schneider started as the company’s new CEO this year as well.

Share for American Apparel have declined by 20 percent this year. According to Bloomberg Business, the company also “declined 3 percent to 82 cents at the close in New York.” The company’s stock is down 23 percent since the start of 2015. American Apparel’s market value is currently 138.08 million dollars.