American Apparel Names New CEO

American Apparel has hired a new CEO — a lawyer with a background in mergers and acquisitions. Chelsea Grayson has served as general counsel for American Apparel for almost two years. She will now be the top executive when Paula Schneider, the CEO brought aboard last year to turn around the company’s fortunes, vacates the position on Monday. Schneider will be the company’s second recent loss. Chairman Paul Charron left American Apparel last month.