Men's Wearhouse executive chairman George Zimmer has been terminated, the clothing retailer said on Wednesday.
NEW YORK (CNNMoney)
Zimmer opened the company's first store in Houston in 1973. He's been the bearded face of Men's Wearhouse (MW) in television ads for years, famously promising men "You're going to like the way you look. I guarantee it."
"The Board [of Directors] expects to discuss with Mr. Zimmer the extent, if any, and terms of his ongoing relationship with the company," the retailer said in a prepared statement. The company's press representatives declined to comment as to why it fired the company's co-founder.
Related: Megadeth's Mustaine rips Men's Wearhouse
The company also postponed its annual shareholders meeting, originally scheduled for Wednesday, "to re-nominate the existing slate of directors without Mr. Zimmer."
First Published: June 19, 2013: 10:03 AM ET
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