Originally Posted by pocketsquareguy
According to Bloomberg, GZ said he didn't approve of the direction the company was headed and this is a move by the BOD to silence him rather than to engage in meaningful discussion.
Regardless of my disdain for his clothing, I feel sorry for him. Building up a company and even though he has made a fortune, he has lost all control and influence in it. I doubt he ever thought that would happen when they went public.
The man was obviously a visionary, regardless of what some internet clothing nerds like us think. Once you go public as a founder (and collect all that cash), you pretty much recognize that your days of running the company will eventually end, and not necessarily on your terms. That being said, its not that he won't have a voice, he still owns 4% of the outstanding stock and can obviously increase his stake. It wouldn't surprise me to see him come back into the picture, as CEO or maybe in a private equity capacity, if the company falls on hard times. Hasn't Joseph Abboud been running the show over there though? If history is any guide, the company will be in dire straits shortly and GZ can come back in.