Men’s wearhouse founder George Zimmer awoke on Wednesday to the news that he has been fired.
Among a bunch of confusing stories regarding the ousting, one of the most bizarre thing seems to be the timing. The company was supposed to conduct its annual shareholder meeting in the morning, before the official announcement regarding Zimmer . The meeting was postponed in light of the recent events.
The ousted executive chairmen and founder of the company went literally from rags to riches. Zimmer famously started Men’s wearhouse using a cigar box for a cash register in Texas. Since then it has grown to be one of North Americas largest men’s clothing outlets with 1,143 locations nationwide.
In a statement the now Jobless Zimmer said:
“Over the last 40 years, I have built The Men’s Wearhouse into a multi-billion dollar company with amazing employees and loyal customers who value the products and service they receive at The Men’s Wearhouse,” he continued:
“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 by terminating me as an executive officer.”
The news of the sudden ousting sent a buzz around the web. Corporate experts and analysts alike have speculated at length about the firing. Eleanor Bloxham, The Value Alliance’s CEO added: “This is very rare to fire a founder. Founders are generally entrenched in the company.”
As of Wednesday morning, the men’s Wearhouse website still features George Zimmer referring to him as “The Man Behind The Brand.” It is assumed the company will update their website soon.
You can see a short report from enews on the firing below:
What do you think of the sudden firing of George Zimmer? Is there clearly “more than meets the eye” with this Men’s Wearhouse ousting? Is it morally correct for the founder of a corporation like this to be fired, suddenly in this way? Let everyone know your thoughts in the comments
