American Apparel fired its founder and CEO, Dov Charney, this week. He departs amid a cloud of sexual harassment allegations, financial mismanagement and nude photos.

During a 10-hour board meeting Wednesday, American Apparel gave Charney two options: resign, or be fired. A reportedly shocked Charney chose the latter.

“We take no joy in this, but the Board felt it was the right thing to do,” the company’s interim co-CEO, Allan Mayer, said in a statement.

The ousting follows an internal investigation, which found that Charney misused company money and allowed an employee to post naked photographs of a former female employee who had sued him, according to a New York Times report.

Specifically, the investigation uncovered that Charney allegedly booked airline flights for his parents using company money, stayed in corporate apartments when not on business, helped  arrange the release of naked photographs of a former employee who was suing him and lied on a deposition, among other matters, the Wall Street Journal reports.

A letter sent by Charney’s lawyers to the American Apparel board calls the board’s actions a “publicity campaign that is intended to destroy Mr. Charney’s reputation,” and demands his reinstatement as CEO.

Of course, even disregarding the allegations of lewd behavior and the personal misuse of corporate funds, American Apparel has not posted an annual profit since 2009 and has racked up $270 million in losses since the beginning of 2010, according to the Huffington Post.

So the real question may be how Charney’s tenure has lasted this long.