NEW YORK (CNNMoney) -- Men's Wearhouse executive chairman George Zimmer has been "terminated," the clothing retailer said on Wednesday.
Zimmer opened the company's first store in Houston in 1973. He's been the bearded face of Men's Wearhouse in television ads for years, famously promising men "You're going to like the way you look. I guarantee it."
"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's press representatives declined to comment as to why it fired the company's co-founder.
The company also postponed its annual shareholders meeting, originally scheduled for Wednesday, "to re-nominate the existing slate of directors without Mr. Zimmer."