Back in February, controversial American Apparel CEO Dov Charney told Buzzfeed that he was just getting started at the company: “I don’t have people bursting in my house yet telling me to take a hike … I’m just cracking my knuckles and getting started. When I’m in my mid-fifties, I’m going to start looking at how to widen, you know, start passing on the torch completely. But right now, I’m just figuring where I want to drive the bus.” Well, the bus just stopped. The company’s board intends to fire Charney “for cause.” (I’m guessing one could use the plural causes in this case.)

+ Due to the structure of some loans, the ouster could mean bankruptcy.

+ Quartz: Here are five things Dov Charney didn’t get fired for.

+ According to a recent study, the highest paid CEOs are the worst for investors.