Charney founded American Apparel(APP) in 1998, building an operation that was famous for its sex-infused advertising campaigns and unorthodox business practices.
The company has struggled. Company shares, which topped $15 as recently as 2007, now trade for less than $1.
Mayer thinks the firing will ultimately be a plus for the struggling retailer.
"There are people who will tell you that Dov's reputation was a real drag on the company. There were people and firms unwilling to do business because Dov ran the company," said Mayer. "Since we announced the decision, we've been contacted by mainstream, top of the line, institutions that have not been interested in supporting us."
American Apparel needs more diversity
Mayer suggested that Charney may try to rally shareholders to his cause, but any changes to the board would be an uphill battle. "He is obviously the largest single shareholders. I'm sure he is talking to lawyers, but we have a very strong team supporting us."
Time may be on the board's side, he said. The company is preparing announcements in the coming weeks that will demonstrate that there is ''life after Dov at American Apparel,'' said Mayer.
"His notion of what's good for the company differs from ours...he thinks keeping him is good for the company, we don't," said Allan.