He's not going to like the way this looks. I guarantee it.
Gawker and USA Today report that Men's Wearhouse has fired founder and current executive chairman George Zimmer 40 years after he founded the clothier.
Men's Wearhouse said in a report that the clothing chain has "terminated George Zimmer from his position as Executive Chairman" and the Board of Directors "expects to discuss with Mr. Zimmer the extent, if any, and terms of his ongoing relationship with the Company."
Zimmer is widely recognized for his statement at the end of his ads for Men's Wearhouse where he said, "You're going to like the way you look. I guarantee it."
The Los Angeles Times reported that prior to today's announcement, Men's Wearhouse reported having a strong first quarter, with revenue up 5.1 percent to $616.5 million.
USA Today reported that "Zimmer earned nearly $2 million last year in pay, bonuses and other compensation. Men's Wearhouse will owe Zimmer $250,000 annually for four years under a licensing deal for his image in advertising and marketing efforts."
Michael Smith is an intern in the news section of DeseretNews.com. A 2013 graduate of the University of Utah, he will be attending Northwestern's Medill School of Journalism in the fall.
Editor's Note: The original version of this story posted on June 19, 2013, failed to properly attribute all source materials, which violates our editorial policies. The story was revised on Oct. 8, 2013.