Douglas S. Ewert

Men's Wearhouse agreed on Tuesday to buy its rival Jos. A. Bank Clothiers for $65 a share in cash, ending months of hostilities between the two retailers. The companies and their advisers worked through the weekend and finally agreed on a deal that values Jos. A. Bank at

Men's Wearhouse agreed on Tuesday to buy its rival Jos. A. Bank Clothiers for $65 a share in cash, ending months of hostilities between the two retailers. The companies and their advisers worked through the weekend and finally agreed on a deal that values Jos. A. Bank at

Men's Wearhouse announced at the company's annual shareholder meeting, that Douglas S. Ewert became president and chief executive officer, succeeding George Zimmer as chief executive officer. Also at the meeting, the company's shareholders elected Ewert to the board of directors. As previously announced, Zimmer will continue as executive chairman of the board of directors.

Houston -- Men's Wearhouse announced Monday that company president and COO Douglas S. Ewert will succeed founder George Zimmer as president and COO, effective June 15. According to the retailer, the transition is part of a previously announced succession plan. Ewert, 47, 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. Zimmer, 62, will continue as executive chairman of the board of directors, and will assist in strategic direction and