George Zimmer, the founder and former chairman of men's apparel retailer Men's Wearhouse, has reacted to claims he wanted to gain control and take it private.

Zimmer, who was terminated from his position last week, said that he has not concluded that taking the company private is a better means of preserving its culture and values.

He did, meanwhile, say that he is concerned about the future of Men's Wearhouse and urged the board to consider options that could optimise the future value of the company for all shareholders.

According to Zimmer, the board fired him from his management role so they could nominate a new slate of directors that excluded him.

"To justify their actions, they now have tried to portray me as an obstinate former CEO, determined to regain absolute control by pushing a going private transaction for my own personal benefit and ego. Nothing could be further from the truth," he said in an open letter to the company. 

Zimmer claimed that the board rejected the idea of exploring strategic alternatives, which included the possibility of taking the company private and "took steps to marginalize and then silence me".

This suggests, he added, that the directors were more concerned with protecting their views and positions than considering options that might benefit stakeholders.