Men's Wearhouse kicks out founder, chairman George Zimmer

[cbdo2007]

Men's Wearhouse kicks out founder, chairman George Zimmer

By Tiffany Hsu
June 19, 2013, 7:15 a.m.

Men’s Wearhouse Inc. said Wednesday that it was removing founder George Zimmer as executive chairman, without offering a reason for the dismissal.

The chain, which Zimmer launched in 1973, also said it was postponing its annual shareholders meeting from Wednesday so it could re-nominate its board of directors without Zimmer.

The company, which runs its eponymous stores as well as Moores and K&G outlets, said it expects to discuss “the extent, if any, and terms of his ongoing relationship with the company.”

Men’s Wearhouse stock quickly dived nearly 7% shortly after trading opened in New York, but after an hour had recovered to a more modest 2% drop, or $36.59 a share.

http://www.latimes.com/business/money/la-fi-mo-mens-wearhouse-george-zimmer-20130619,0,5026739.story

[malaise]

1. Doesn't Rmoney own this one - as in Bain? n/t

[femmocrat]

2. I hate their commercials.

If that is George Zimmer on the commercials, they made a good move.

[Orrex]

3. Now who'll guarantee that I'm going to like the way I look?

[Cirque du So-What]

4. I once went to a Men's Wearhouse

I don't know if it was part of the Bain portfolio at that time, but I have never met a more insulting, high-pressure, bait'n'switching salesweasel in my life. Now that I know who owns that company, I'm even less likely to ever set foot inside one of their stores again.

[longship]

5. I guarantee it, that he didn't see this coming.

Can't stand those commercials, but haven't seen one in years.

[PennsylvaniaMatt]

6. I can guarantee he's not liking the way his future looks right now...

I have mixed feelings about Men's Wearhouse...They just put a store not far from where I live and some of their dress shirts and ties are good quality, and not that bad in price. Some of their suits on the other hand are ridiculously expensive, for only being from Men's Wearhouse!

I had a better experience at "....JOSEPH....A........BANK!"

[smokey nj]

7. George Zimmer's a lefty, I wonder if that's the reason.

[Apophis]

8. I'm guessing his guarantee fell flat?

[hfojvt]

9. well they should, after he shot that kid

He made almost $2,000,000 last year http://www1.salary.com/George-Zimmer-Salary-Bonus-Stock-Options-for-MENS-WEARHOUSE-INC.html

So I think he will still be able to afford nice clothes in his forced retirement.

[OriginalGeek]

10. I'd like to have Brooks Brothers suits

but I can afford Men's Wearhouse suits. Some of them, anyway. I thought George was a lefty too. Didn't know about Bain but I guess now I will have to look around more for affordable, decent quality suits.

Maybe George will open a new competing place. His commercials never bothered me.

[MillennialDem]

11. Surprised no one has brought up the very foul George Zimmer meme from close to 10 years ago now

[Enrique]

12. how can they fire the Most Interesting Man?

[SheilaT]

13. Several times I've had to take my sons to the local

Men's Wearhouse and have had very good service there. Once was when their grandfather died and we'd be leaving the next morning to fly 800 miles for the funeral. They made sure the clothes were ready in about two hours.

I just wish there was an equivalent Women's Wearhouse.

[LanternWaste]

14. I like the place. Good prices for durable and fashionable suits.

I like the place. Good prices for durable and fashionable suits, and their tailors are quick, professional and friendly.

Being that I currently have thirteen suits, and have to purchase at least one additional suit a year for work, even a 5% price reduction makes for a tidy savings.