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Men's Wearhouse fires founder/executive chairman George Zimmer

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Culex

Banned
Hmm.

Can someone with more understanding of finance explain this to me? If he is the founder, what would have lead him to only possessing 3.5% of the company?

Did his ownership stake simply become diluted as the company took on more investors in order to expand so drastically or is it possible that he has divested over the years by simply selling off his stock.

Well he's only controls 3.5%, nothing even remotely approaching a controlling share.
If he has simply been selling off stock over the years than he is likely worth much more than that.
CNBC says he is the largest individual shareholder of the company.
 

Emerson

May contain jokes =>
As others have said, the idea of being fired from your own company (that you built) strikes me as particularly horrible. I can imagine the anguish is pretty strong.
 

Smellycat

Member
Firing the founder of a company has to be one of the most despicable things anyone can do in the business world. That is why I will never go public if I start a corporation.
 

xbhaskarx

Member
Nobody wears that crap anymore, that's why. Its all about Suit Supply now.
suit-supply1.jpg

I have never heard of Suit Supply before now, but those suits look 1000x better than anything you'd find in a Men's Wearhouse.
I have only been inside Men's Wearhouse store once, to rent a tux for a wedding, but I checked out their suits and they were garbage.
 
hah, I was just about to make this thread. Don't know why they canned him, business by all measures seemed to be going well. I wonder if they're going to chase a younger crowd that is getting pulled toward h&m and online places like indochino, suit supply, etc etc.
 
It seems no one is getting the joke here so I'll just chime in and say 10/10

Oh, we got it.

Man, it's like getting rid of a childhood memory. He was there trying to sell me suits while I waited for my cartoons to come back on.

CHEEZMO™;64856451 said:
That's what you get for shooting some ki- oh nvm


Not unexpected after he killed that unarmed kid.

Hahaha! took me a second.
 
Don't know much about suits but I bought a set from them for interviews (mom had a giftcard). Don't know if it has anything to do with anything but it net me a $30/hr job out of college... so the suit can't be too shabby.
 
i just got the shooting joke lol

sucks for the guy, but i never liked the mens wearhouse. i only went there once to rent a tux for prom but thats it. everything else is straight up 90s corporate drone look
 
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