American Apparel board votes to oust CEO

Dov Charney built a reputation as one of the most successful names in the American clothing industry, but also as one of its most controversial. Now the company he created plans to dismiss him "for cause" a month from now, reports CBS News' Ben Tracy.

The American Apparel board of directors unanimously voted to oust their CEO Wednesday night, saying, "The decision to replace Mr. Charney grew out of an ongoing investigation into alleged misconduct," adding, "We take no joy in this. Dov Charney created American Apparel, but the company has grown much larger than any one individual."

Charney, who started American Apparel in his college dorm room, built his empire with affordable clothing geared toward the younger generation.

He garnered plenty of attention with a steady stream of provocative ad campaigns.

In an interview on "Charlie Rose" in 2006, he spoke with Rose about his view of the company: "I think the company very much is a reflection of the sensibilities of the next generation of adults that's coming upstream right now."

In recent years, however, American Apparel -- which prides itself on its commitment to "Made in America" -- has reported huge financial losses.

The 45-year-old Charney has also plagued by accusations of misconduct. In 2011 four female employees sued him for sexual harassment. A year later he was accused of choking one of his store managers.

This latest allegation of misconduct is still a mystery.

Charney has always had a history of eccentric behavior, as evidenced by one interview conducted from a bathroom. "Being a controversial person, you know, is somewhat of a two-edged sword," he said in the interview.

He has 30 days before his termination becomes final.

CBS News reached out to Charney directly, but he declined any comment on the story.