Tuesday, June 25, 2013

You Can Show Him The Door But He Won't Leave

Still Wants To Guarantee It
Can you blame George Zimmer for not leaving, even after he was shown the door?

The iconic pitchman and founder of men's clothing chain Men's Wearhouse was trying to step down at his own pace, ease himself out of the running of the company he created. What's the point of working yourself to death, right? A man needs to retire eventually and kick back, do some fishing, but after a lifetime of Type A, hard-charging drive, it doesn't come easy.

The board of directors took Mr. Zimmer at his word and figured he was going so they made plans and started doing things their way. But there was Mr. Zimmer, still directing, still putting in his opinions where they weren't supposed to be any more.

So they showed him the door and then kicked him out of it when he didn't get the hint.

Maybe it's cold out there. George Zimmer isn't going quietly. He wants back in. And he's talking to his lawyers to find him a key.

After his ouster, Mr. Zimmer kept a seat on the board, but he quit that post as part of a come-back plan. All he has to do is buy back the stock and get a controlling share. Then it'll be the board that canned him getting shown the door while he takes back his rightful place.

Retirement isn't all that, not for a man who can't take it easy. Have you ever seen him in a pair of jeans and a t-shirt? George doesn't do relaxation.

The plan sounds simple enough but it won't be easy. Finding partners with lots of ready cash to invest in men's clothing can be difficult. Tech start-ups are always sexier and draw more attention. A rack of men's suits isn't exactly intriguing and laced with potential for profit.

You're gonna like retirement, the board said, but Mr. Zimmer discovered that he didn't like sitting there letting other people make decisions he used to make. He didn't like not being the one in charge.

Men's Wearhouse has reached the transition stage, where the founder steps aside to let others nurture his baby. In his heart, he just doesn't trust a stranger to be as loving as he has been for all these years. For the board of directors, however, they can't go forward if Mr. Zimmer keeps dragging them back. Someone has to walk out the door. A corporation can only go in one direction if it isn't going to be pulled apart...like an ill-fitting suit with weak threads in the seams.

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