Wednesday, June 19, 2013

Move over pop....Jr's taking over

Effectiveness of Men's Wearhouse George Zimmer as Spokesperson Was Under Review, Analyst Says - ABC News

Retailer Men's Wearhouse [NYSE: MW] announced that it "terminated" founder and executive chairman George Zimmer, best known to consumers for his hundreds of TV commercials pitching suits.

The company, based in Fremont, Calif., was founded in 1973 by Zimmer. It is one of the country's largest specialty men's retailers with 1,143 stores across the country. The company operates Moores and K&G Stores in addition to its namesake stores.

Zimmer's famous tagline was, "You're going to like the way you look. I guarantee it."

"We believe that despite Zimmer's planned transition to a smaller role at the company, he had difficulty letting go of the reins and the leadership of the business," Jaffe wrote in his note to investors. "We believe that this led to a conflict with the board and his subsequent termination."

 While Zimmer has been the face of the company for decades, accumulating 500 hours of footage, Jaffe said, "The use of Zimmer as spokesperson has, coincidently been under review as management has been evaluating his effectiveness, particularly with the millennial consumer." Zimmer is 64 years old.

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