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8-K - FORM 8-K - TAILORED BRANDS INC | h81450e8vk.htm |
EX-10.1 - EX-10.1 - TAILORED BRANDS INC | h81450exv10w1.htm |
EX-10.2 - EX-10.2 - TAILORED BRANDS INC | h81450exv10w2.htm |
Exhibit 99.1
News Release | ||
Contacts: | ||
For Immediate Release
|
Neill Davis, Mens Wearhouse (281) 776-7000 Ken Dennard, DRG&L (713) 529-6600 |
MENS WEARHOUSE PROVIDES SUCCESSION PLAN UPDATE
EWERT TO BECOME CEO JUNE 15, 2011
HOUSTON April 18, 2011 Mens Wearhouse (NYSE: MW), a leading specialty retailer of mens
apparel, announced today that Douglas S. Ewert, the president and chief operating officer of the
Company, will succeed George Zimmer, Mens Wearhouses founder and chairman of the board and chief
executive officer, as president and chief executive officer of the Company immediately after the
Companys Annual Shareholder Meeting to be held on June 15, 2011. This announcement is consistent
with the Companys succession plan which was previously announced in January 2011. In addition,
Ewert has been nominated by the Board to be elected as a director of the Company at the Annual
Shareholder Meeting and will be included in the list of nominees in the proxy statement for
consideration by the shareholders.
Ewert, age 47, will become the president and chief executive officer and Zimmer, age 62, will
continue as executive chairman of the board of directors. As previously disclosed, Zimmer will
assist Ewert in matters related to the strategic direction of the Company and he will continue to
be involved in the Companys marketing activities. Zimmer will remain a pivotal architect of the
Companys customer and employee oriented culture. After Ewerts transition to president and chief
executive officer, the chief operating officer position will not be filled.
When Ewert joined Mens Wearhouse in 1995, the Company operated 278 stores. In 1999, Ewert became
vice president of merchandising and, in 2000, senior vice president of merchandising. He was
promoted again in 2001 to become executive vice president and general merchandise manager of all
retail brands. He was named executive vice president and chief operating officer in 2005, and
advanced to president and chief operating officer of the Company in 2008. Prior to Mens
Wearhouse, Ewert was with Macys for 10 years, where his final position was Divisional Merchandise
Manager, Macys West.
Zimmer stated, Doug and I are extremely pleased with the progress we have made as we transition to
his appointment on June 15th. We believe this will continue to be a smooth and seamless process for
our employees, customers, suppliers, and shareholders. Doug will continue to foster our Companys
unique culture of customer services. Together over the years we have nourished that culture and our
employees have embraced it. It and our employees have and will remain the key ingredients in our
future success.
Ewert concluded, As I stated in late January, Im extremely honored and excited to be chosen by
the board to lead the next chapter in this Companys amazing story. I am looking forward to
continuing to work closely with George and our outstanding leadership team for many more years to
come.
Founded in 1973, Mens Wearhouse is one of North Americas largest specialty retailers of
mens apparel with 1,192 stores. The Mens Wearhouse, Moores and K&G stores carry a full selection
of designer, brand name and private label suits, sport coats, furnishings and accessories and Mens
Wearhouse and Tux stores carry a limited selection. Tuxedo rentals are available in the Mens
Wearhouse, Moores and Mens Wearhouse and Tux stores. Additionally, Mens Wearhouse operates a
global corporate apparel and workwear group consisting of TwinHill in the United States and
Dimensions and Alexandra in the United Kingdom.
For additional information on Mens Wearhouse, please visit the companys website at
www.menswearhouse.com. The website for K&G is www.kgstores.com. The website for Moores is
www.mooresclothing.com. The website for Dimensions is www.dimensions.co.uk, the website
for Alexandra is www.alexandra.co.uk and the website for TwinHill is www.twinhill.com.
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