Men's Wearhouse has fired George Zimmer, the man who founded the brand 40 years ago.

Shares are down on the news.

Most people know Zimmer from the "You're gonna like the way you look" commercials he starred in.

He stepped down as CEO in 2011, but was still largely seen as the face of the brand.

His firing is bizarre.

The company's statement was icy and didn't indicate whether Zimmer would have any power going forward:

"The Board expects to discuss with Mr. Zimmer the extent, if any, and terms of his ongoing relationship with the Company," Men's Wearhouse said in the statement.

In his own statement to CNBC, Zimmer implied that disagreements with the board led to his firing:

"Over the past several months I have expressed my concerns to the Board about the direction the company is currently heading," Zimmer said. "Instead of fostering the kind of dialogue in the Boardroom that has in part contributed to our success, they Board has inappropriately chosen to silence my concerns through termination as an executive officer."

The reason for his firing is unclear. Shares are actually up over the past year, and the company just announced last week that first-quarter profit increased by a whopping 23%.

Here's the full statement:

FREMONT, Calif., June 19, 2013 /PRNewswire/ -- The Board of Directors of Men's Wearhouse (NYSE: MW) today announced that it has terminated George Zimmer from his position as Executive Chairman. The Board expects to discuss with Mr. Zimmer the extent, if any, and terms of his ongoing relationship with the Company.

In light of Mr. Zimmer's termination, the Company also announced that it is postponing its Annual Meeting of Shareholders, which had originally been scheduled for June 19, 2013, at 11:00 a.m. Pacific daylight time. The purpose of the postponement is to re-nominate the existing slate of directors without Mr. Zimmer.

The Company expects to announce the rescheduled date, time and location of the postponed Annual Meeting shortly. The Company will set a new record date, provide additional information with respect to the Annual Meeting in a supplement to its proxy statement to be filed with the Securities and Exchange Commissionand commence a new solicitation with respect to the supplemented proxy materials. Shareholders are urged to read the supplement in its entirety, as it will contain important information about the Annual Meeting.

Here's Zimmer's full statement to CNBC:

"Over the last 40 years, I have built MW into a multi-billion dollar company with amazing employees and loyal customers who value the products and service they receive at MW. Over the past several months I have expressed my concerns to the Board about the direction the company is currently heading. Instead of fostering the kind of dialogue in the Boardroom that has in part contributed to our success, they Board has inappropriately chosen to silence my concerns through termination as an executive officer."

In memory of Zimmer's time at Men's Wearhouse, here is one of his commercials: