17:53:49 EDT Tue 07 May 2024
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Gildan Activewear Inc
Symbol GIL
Shares Issued 170,294,722
Close 2024-01-12 C$ 42.13
Market Cap C$ 7,174,516,638
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Globe says new Gildan CEO will start in role on Monday

2024-01-15 07:30 ET - In the News

The Globe and Mail reports in its Saturday edition that Gildan Activewear is moving up the start date of its new chief executive officer. The Globe's Nicolas Van Praet writes that Gildan said Friday that new CEO Vince Tyra will start on Monday, Jan. 15. That is about a month before he was previously slated to begin. At the board's invitation, Mr. Tyra has made himself available earlier "to respond to requests to engage early with key stakeholders," Gildan said in a statement. Speeding up Mr. Tyra's arrival adds more fuel to the fire in a conflict over the future of the company between Gildan's board and major investors such as hedge fund Browning West. The Globe says the fight has taken on a personal tone, with directors attacking Glen Chamandy for what they call a fading commitment to his job and questionable behaviour, such as deleting messages on corporate-issued devices. Browning filed a formal request with Gildan last week to hold a special shareholders meeting without delay and reconstitute the board. It wants Mr. Tyra out, Mr. Chamandy rehired and eight of the directors on Gildan's current 11-member board removed and replaced with new directors in order to reverse the company's share price decline.

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