The board of Men’s Wearhouse abruptly fired company founder and longtime spokesman George Zimmer last week as it was revealed they’re looking to appeal to a younger crowd.
Unhappy with being ousted from his own company, Zimmer in a statement slammed the board for failing to work with him on several issues.
And unhappy with Zimmer’s angry statement, the board fired back at Zimmer with a laundry list of reasons for his firing.
Now, one day after the board’s unusual statement firing back at the former CEO, Zimmer has once again escalated the war of words by firing back at the board. Again.
“Rather than thoughtfully evaluating the idea or even checking the market to see what value might be created through such strategic alternatives, the Board quickly and without the assistance of financial advisors simply rejected the idea, refused to even discuss the topic or permit me to collect and present to the board any information about its possibilities and feasibility, and instead took steps to marginalize and then silence me,” said Zimmer in the letter.
“The directors were more concerned with protecting their entrenched views and positions than considering the full range of possibilities that might benefit our shareholders and indeed all our stakeholders.
“The reality is that over the past two years, and particularly over recent months, I believe that the board and management have been eroding the principles and values that have made The Men’s Wearhouse so successful for all stakeholders,” he added
The board in a press release explaining its decisions to fire Zimmer cited both his alleged desire to take the company private and his refusal to hand power over to a new CEO.
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