The Daily Item, Sunbury, PA

Community News Network

June 19, 2013

Men's Wearhouse founder George Zimmer fired

TORONTO — Men's Wearhouse's board fired George Zimmer, the founder and public face of the company, as executive chairman without saying why and delayed its annual shareholder meeting. Zimmer, in a statement, said the board had "silenced his concerns" about the company's direction.

The board expects to discuss with Zimmer the extent and terms of his future relationship with the company, Houston-based Men's Wearhouse said Wednesday in a statement. The company didn't provide a reason for the firing. Ken Dennard, a Men's Wearhouse spokesman who works for Dennard - Lascar Associates, declined to comment.

Men's Wearhouse is parting ways with the man who founded the company in 1973 and stars in its commercials, delivering the signature tag lines, "You're going to like the way you look. I guarantee it," in his baritone voice. While Zimmer, 64, had been scaling back his professional responsibilities, including leaving the board of online education provider Apollo Group in March, the Men's Wearhouse statement is puzzling, said Richard Jaffe, an analyst at Stifel Financial Corp.

"Over the past several months I have expressed my concerns to the Board about the direction the company is currently heading." Zimmer said in a statement Wednesday, according to CNBC. "Instead of fostering the kind of dialogue in the Boardroom that has in part contributed to our success, the Board has inappropriately chosen to silence my concerns through termination as an executive officer."

The new date, time and location of the annual meeting, which had been scheduled for Wednesday, will be announced "shortly," the company said, without providing a date.

Zimmer owns about 3.5 percent of the company's shares, according to data compiled by Bloomberg.

He opened the first Men's Wearhouse in Houston with his college roommates, selling $10 pants and $25 polyester sport coats, according to the company's website. He began appearing in the company's commercials in 1986, extolling the company's low prices.

Men's Wearhouse now operates 1,143 stores selling suits, coats, clothing and accessories through its namesake, Moores, Tux and K&G chains.

1
Text Only
Community News Network
  • wd saturday tobias .jpg Stranger’s generosity stuns Ohio veteran

    Vietnam War veteran David A. Tobias was overwhelmed recently when a fellow customer at an OfficeMax store near Ashtabula, Ohio paid for a computer he was purchasing.

    July 28, 2014 1 Photo

  • Screen Shot 2014-07-28 at 1.33.11 PM.png VIDEO: High-dive accident caught on tape

    A woman at a water park in Idaho leaped off a 22-foot high dive platform, then tried to pull herself back up with frightening results. Fortunately, she escaped with only a cut to her finger.

    July 28, 2014 1 Photo

  • CATS-DOGS281.jpg Where cats are more popular than dogs in the U.S.-and all over the world

    We all know there are only two types of people in the world: cat people and dog people. But data from market research firm Euromonitor suggest that these differences extend beyond individual preferences and to the realm of geopolitics: it turns out there are cat countries and dog countries, too.

    July 28, 2014 1 Photo

  • How spy agencies keep their 'toys' from law enforcement

    A little over a decade ago, federal prosecutors used keystroke logging software to steal the encryption password of an alleged New Jersey mobster, Nicodemo Scarfo Jr., so they could get evidence from his computer to be used at his trial.

    July 25, 2014

  • Russia's war on McDonald's takes aim at the Filet-o-Fish

    Russia said earlier this week that it had no intention of answering Western sanctions by making it harder for Western companies to conduct business in Russia.
    But all bets are off, apparently, when you threaten the Russian waistline.

    July 25, 2014

  • cleaning supplies Don't judge mothers with messy homes

    I was building shelves in my garage when a neighbor girl, one of my 4-year-old daughter's friends, approached me and said, "I just saw in your house. It's pretty dirty. Norah's mommy needs to clean more."

    July 25, 2014 1 Photo

  • Arizona's prolonged lethal injection is fourth in U.S. this year

    Arizona's execution of double-murderer Joseph Wood marked the fourth time this year that a state failed to dispatch a convict efficiently, according to the Constitution Project, a bipartisan legal group.3

    July 24, 2014

  • Police Brutality screen shot. Technology plays key part in battling police brutality (VIDEO)

    Allegations of police brutality are nothing new -- as long as there has been law enforcement, citizens have registered claims that some officers cross the line. But in the last few years, the claims of excessive force are being corroborated with new technology from cell phone cameras, police dash-cams and surveillance videos. 

    July 24, 2014 1 Photo

  • Facebook continues moneymaking trend

    Facebook seems to have figured out - for now at least - the holy grail for all media right now: how to make money selling mobile ads.

    July 24, 2014

  • Has the ipad lost its swag?

    July 24, 2014