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I'm not surprised that a company whose management was selected largely on the basis of childhood friendship and whose members include Deepak Chopra, one of the
by c3534l 11y ago
I'm not surprised that a company whose management was selected largely on the basis of childhood friendship and whose members include Deepak Chopra, one of the world's most cyncial charlatans (really? You didn't think he was motivated by money? Do you even know who he is? His whole schtick is snake-oil sales) is not doing well. I also have a hard time believing this was as abrupt as the article claims.
- noobermin 11y agoMy reading of the article didn't imply that it was soley on the basis of friendship, but just that one of his members was a close friend. EDIT: s/one/some/; s/a close friend/close friends/
- pm90 11y ago>"His abrupt ouster came as a personal blow, especially since he counted some of the directors among his closest friends"
- HillRat 11y agoNot surprising since BoDs are drawn from surpassingly small and tightly-intertwined groups -- though every market and market vertical tend to have their own sets. Everybody knows everyone in those worlds....
- pm90 11y agoThe interesting question then really is: how exactly do you staff a Board of Directors? Not a question that a lot of people struggle with, I'm sure. But perhaps something that needs a better answer than "with the people I know and trust".
- mynameisvlad 11y agoOnce again, nothing there implies that they were chosen solely because they were friends. Could have been highly qualified people who just happen to also be his friends.
- pm90 11y agoYou're right, I wish NYT had taken time to interview someone from the board to get both sides of the story.
- itafroma 11y agoThe board outlined their side in a press release shortly after Zimmer's termination: http://ir.menswearhouse.com/press-releases/detail/12/mens-wearhouse-board-of-directors-provides-further-comments-on-termination-of-george-zimmer http://ir.menswearhouse.com/press-releases/detail/12/mens-we...
- luckydude 11y agoI have to wonder how they feel about their decisions now. From what I can gather, he put together a pretty cool company with nice ethics. I heard that he hired felons saying that everyone needs a second chance. He treated his employees well. The company, so far as I know, was doing well. Not cranking the stock price but making bank and taking care of customers and employees. What's so awful about that?