22:24:42 EDT Tue 07 May 2024
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Gildan Activewear Inc
Symbol GIL
Shares Issued 170,294,722
Close 2024-01-16 C$ 42.25
Market Cap C$ 7,194,952,005
Recent Sedar Documents

Globe says Gildan lays bare new findings on ousted CEO

2024-01-17 08:20 ET - In the News

The Globe and Mail reports in its Wednesday edition that Gildan Activewear has uncovered new information suggesting former chief executive officer Glenn Chamandy was even less engaged in his job than previously thought and has a "close relationship" with Browning West, which is heading a shareholder effort to have him reinstated. The Globe's Nicolas Van Praet writes that on Tuesday Gildan said, "In addition to rarely being in the office, holding few senior management meetings and never bothering to visit the company's newest manufacturing plant, Gildan has now learned that Mr. Chamandy sent on average no more than a handful of work e-mails a day and had few business-related meetings diarized on his calendar." Gildan's board is locked in a fight with several major shareholders over the surprise dismissal of Mr. Chamandy in December. Directors have said they are unanimous that his continued employment would have jeopardized the company's future and that they lost confidence in his leadership over time as he became increasingly distracted with his personal pursuits. Shareholders including Browning West and Jarislowsky Fraser say Mr. Chamandy has delivered in spades for investors over the years and want him back.

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