Men's Wearhouse announced that it fired founder and executive chairman George Zimmer on Wednesday, but the retail giant might have gotten rid of him for being too old - then took away his almost $2 million salary.

"The use of Zimmer as spokesperson has, coincidently been under review as management has been evaluating his effectiveness, particularly with the millennial consumer," said Richard Jaffe, an analyst with Stifel Nicolaus, in a statement to stockholders.

Jaffe expressed his concern with George Zimmer's appeal to the millennial consumer, who is typically within the parameters of "Generation Y," people who were born between 1976 and 2000.

"We believe that this led to a conflict with the board and his subsequent termination."

George Zimmer earned $1,985,916 in his last pay figure from Men's Wearhouse as the executive chairman.

He worked at the retail giant for over 40 years and appeared in over 500 hours of footage, according to ABC News.

But George Zimmer felt the company he created eventually "silenced" his concerns.

"Over the last 40 years, I have built The Men's Wearhouse into a multi-billion dollar company with amazing employees and loyal customers who value the products and service they receive at The Men's Wearhouse," Zimmer said in a statement, according to ABC News.

"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, the Board has inappropriately chosen to silence my concerns by terminating me as an executive officer."