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George Zimmer, Men's Warehouse former executive chairman, (known to laymen as the "you're-going-to-like-the-way-you-look"-commercial guy) was recently fired much to the shock of television-watchers everywhere. But it's not because he was out of touch with '20-something whippersnappers interested in BOGO free suits. It's because he wanted to regain control of Men's Wearhouse from the current chief executive officer Doug Ewert and take the company private. Find part of the statement issued by the board below.
Mr. Zimmer had difficulty accepting the fact that Men's Wearhouse is a public company with an independent Board of Directors and that he has not been the Chief Executive Officer for two years. He advocated for significant changes that would enable him to regain control, but ultimately he was unable to convince any of the Board members or senior executives that his positions were in the best interests of employees, shareholders or the company's future.Read the full statement here.
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