George Zimmer, the founder, executive chairman and marketing face of Men’s Wearhouse Inc. (Houston), has been fired.
The apparel chain’s board of directors made the announcement, following a series of undisclosed disagreements, but no specific explanation was given. According to The New York Times, some analysts have suggested that the conflict might be over the company’s efforts to appeal to younger customers.
“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. “Instead of fostering the kind of dialogue in the board room that has in part contributed to our success, the board has inappropriately chosen to silence my concerns through termination as an executive officer.”
Zimmer, 64, started the company in 1973 and has long been the voice of its advertising with his tag line, “You’re going to like the way you look. I guarantee it.”
A shareholders meeting scheduled for today has been postponed “to renominate the existing slate of directors without Mr. Zimmer,” the company said, adding it “fully supports ceo Doug Ewert and his management team.”
The company has more than 1100 stores nationally, under the flagship Men’s Wearhouse brand, along with Moores and K&G. Sales for 2012 were $2.5 billion, up 4.4 percent.