Men's Wearhouse fires the 'I guarantee it' guy

Men's Wearhouse executive chairman George Zimmer has been terminated, the clothing retailer said on Wednesday.

NEW YORK (CNNMoney)

Zimmer opened the company's first store in Houston in 1973. He's been the bearded face of Men's Wearhouse (MW) in television ads for years, famously promising men, "You're going to like the way you look. I guarantee it."

The company's press representatives declined to comment as to why it fired the company's co-founder.

"The Board [of Directors] expects to discuss with Mr. Zimmer the extent, if any, and terms of his ongoing relationship with the company," the retailer said in a prepared statement.

The company also postponed its annual shareholders meeting, originally scheduled for Wednesday, "to re-nominate the existing slate of directors without Mr. Zimmer."

Zimmer's image was still all over the company web site on Wednesday morning, featuring Youtube links to his commercials, and a timeline explaining how he started the chain of stores.

Related: Megadeth's Mustaine rips Men's Wearhouse

There was even an online feature called "Ask George," where customers can send him fashion questions or comments. CNNMoney sent a question to Zimmer via this web feature asking why he was fired, but there was no immediate response.

Zimmer owns 3.6% of the company's shares, making him the largest single shareholder, according to Lionshares. The stock was down 1.8% in early trading.

First Published: June 19, 2013: 10:03 AM ET

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