01:23:50 EDT Tue 07 May 2024
Enter Symbol
or Name
USA
CA



Gildan Activewear Inc
Symbol GIL
Shares Issued 170,294,722
Close 2024-01-08 C$ 42.07
Market Cap C$ 7,164,298,955
Recent Sedar Documents

Globe's Willis sides with Gildan board over CEO battle

2024-01-09 09:11 ET - In the News

The Globe and Mail reports in its Tuesday edition that former Gildan chief executive officer Glenn Chamandy owns the Apes Hill golf resort in Barbados. The Globe's Andrew Willis writes that after acquiring the 475-acre property in 2019, Mr. Chamandy proudly told a golf magazine, "We want Apes Hill to take your breath away in many different ways -- by being environmentally responsible, visually beautiful and authentically the best of Barbados." Creating a golf experience is admirable. It is also time-consuming, and that is now an issue because Mr. Chamandy built this award-winning development while also serving as Gildan's CEO. On Monday, one of the nastiest governance battles in recent memories got even uglier. In the face of growing institutional investor demands to reinstate Mr. Chamandy after he was terminated last month, Gildan's board detailed the reasons it pushed out the co-founder and 20-year CEO of one of the country's most successful consumer product companies. Gildan directors said they lost "trust and confidence" in the CEO. Mr. Willis says that based on everything disclosed to date, including allegations Mr. Chamandy reneged on agreement for a three-year succession plan, Gildan's board did its job.

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