Market Overview

Men's Warehouse Board Kicks Founder and Brand Image George Zimmer to the Curb (MW)

Men's Warehouse Board Kicks Founder and Brand Image George Zimmer to the Curb MW
Related MW
Mid-Morning Market Update: Markets Surge; Lululemon Profit Beats Expectations
Stocks Hitting 52-Week Lows
Will Nordstrom (JWN) Keep Growth Trend Alive in 2015? - Analyst Blog (Zacks)

In a surprising turn of events Wednesday morning, Men's Warehouse (NYSE: MW), a specialty men's retailer, announced that its board of directors had terminated founder George Zimmer's executive chairman position.

Many are familiar with Zimmer's gravely voice and white beard from the Men's Wearhouse commercials. He is especially known for the slogan he delivers at the end of each commercial: “You're going to like the way you look. I guarantee it."

George Zimmer's influence on the company could be compared to that of Martha Stewart in her company Martha Stewart Living (NYSE: MSO) or Michael Dell in his company Dell (NASDAQ: DELL).

The board's move to terminate Zimmer's position seems drastic, as removing a founder is often frowned upon by shareholders, especially one who is the face of the brand.

Later in the release, the company announced that it was postponing its annual shareholders meeting, which was originally scheduled for June 19.

Following the news, Men's Warehouse shares took a beating, falling almost nine percent to $34.14 before recovering slightly.

Posted-In: George Zimmer Martha Stewart Michael DellNews Management Movers Best of Benzinga


Related Articles (DELL + MSO)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Our Experts vs. S&P 500Powered by Benzinga
Marketfy Products Return S&P 500
Morning Profit Maker 42.72% 6.69%
The Option Prophet 91.14% 6.69%
SecretCaps 26.55% 6.69%
Short-Term Trend Trading 11.89% 6.69%
View the highest rated products→