Only Bad Things Cause A Company To Fire A Founder and CEO like Zimmer!
I like the guy and his cool ads for men's suits and clothing! I smell a rat which poses a problem for shareholders. The company has done great according to the Financial Statements MW has released for public consumption. I have no position in MW, just wondering why the act of "Firing" which does not happen enough in Wall Street took a good CEO down.
I hope he remains as a consultant, he's a cool dude!
He gave up the CEO spot two years ago, essentially hand-picked his successor. He's a brilliant, charismatic man who built a great company, but the new CEO (Ewert) and board need to make changes to keep MW moving forward, and all signs point to Zimmer resisting and becoming increasingly shrill in doing so. It's tough for a founder/CEO to recede to a lesser role, but it's got to be done. What good is it to designate a successor if you won't let him succeed you? This was clumsy for the board but I don't see that it had an option.
Really? Fired for financial impropriety? That doesn't happen. They just invite him to join the club. They're distancing themselves from some liability. Perhaps he was fiddling in the wrong nickers or something.