Mens wearhouse zimmer fired,how to make my website appear google search,what would a girl want in a relationship - You Shoud Know

Published 29.11.2013 | Author : admin | Category : Women Need Men

Former Men's Wearhouse chief George Zimmer (Los Angeles Times )A month after parting ways with its founder, suit retailer Mena€™s Wearhouse Inc. Men's Wearhouse founder George Zimmer got only $10,000 a year to be the face and voice of his former company's ads. Since 1973 when I opened the first The Men's Wearhouse store in Houston, with the help of tens of thousands of current and former employees, we have built a multi-billion dollar company based on two guiding principles. Over the years, asA CEO, I consistently encouraged the company to take a longer term approach of investing most of our profits back in the company, delivering value to our customers and building a loyal and dedicated workforce totally committed to service, rather than pursuing shorter term strategies based on financial engineering. Just one month after the directors unanimously nominated me for reelection to the Board, last week they abruptly fired me from my management role and postponed the Annual Stockholder Meeting so they could nominate a new slate of directors that excluded me. 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. Earlier this year, concerned with the Board's response to the short term pressures of Wall Street, I encouraged the Board to at least study a broader range of strategic alternatives beyond simply selling the K&G division, including the possibility of a going private transaction.
Such behavior by the Board does not strike me as consistent with sound principles of good corporate governance or the core values of The Men's Wearhouse, but instead suggests that 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. To be clear, at this point I have not concluded that taking The Men's Wearhouse private is a better means of preserving the unique culture and values that have made the company so successful over the years. To the countless employees who have attempted to contact me over the past week, I appreciate your kind gestures and support.
Richard Jaffe, analyst with Stifel Nicolaus, wrote in a note that Zimmer had reduced his role at the company "significantly" over the past two years.
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.


The millenial consumer is typically described as "Generation Y", or people born between 1976 and 2000. Zimmer's most recent pay figure is $1,985,916, according to executive compensation data firm Equilar. Men's Wearhouse stock was trading around $36.71 a share late Wednesday morning, down about 2 percent. But now that he's been fired, he's going to get $1 million for ads over the next four years.
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The first is to serve customers by deliveringA valueA and an enjoyable shopping experience and the second is to embody the values of servant leadership by trusting and empowering our employees to create that experience. Inside the Boardroom, we often had spirited discussions about how best to achieve these objectives.
To justify their actions, they now have tried to portray me as an obstinate former CEO, determined to regain absolute control by pushing a going private transaction for my own personal benefit and ego. 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 ofA financial advisorsA 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.
What I do know is that as a founder and large shareholder, I am greatly concerned aboutA the futureA of the company if this culture and these values are lost, and believe that the Board should be open to at least consider the full range of possibilities that could optimize the future value of the company for all stakeholders. Zimmer's termination," it is postponing its annual shareholders' meeting which had been scheduled for 11 a.m. It is one of the country's largest specialty men's retailers with 1,143 stores across the country.


Zimmer named a new CEO, Doug Ewert, two years ago while designer Joseph Abboud was named as chief creator director in Dec. Executive vice president Charles Bressler earned $2 million, up from $1.8 million in 2011, according to Equilar. I believed that if we did these things right, customers would be satisfied, employees would feel appreciated and motivated and shareholder value would be created.
Regardless of whether the Board eventually sided with my point of view or not, I believe this dialogue and discussion led to better decisions that contributed to the success of The Men's Wearhouse. Paul Kranhold, a spokesman for Zimmer, said he has not been told of the company's marketing plans, but acknowledged the agreement that could let him continue to appear in the ads.
Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. He got total compensation of just under $2 million in each of the past three fiscal years in his role as executive chairman, nearly as much as the $2.1 million received in the most recent year by CEO Douglas Ewert.
Zimmer fired back that management was "more concerned with protecting their entrenched views and positions" than with the company's best interests. The filing says that's the amount due if he is terminated by the company for any reason other than cause.




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