02:22:22 EDT Tue 07 May 2024
Enter Symbol
or Name
USA
CA



Gildan Activewear Inc
Symbol GIL
Shares Issued 170,294,722
Close 2024-01-17 C$ 42.69
Market Cap C$ 7,269,881,682
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Globe says Chamandy fires back at Gildan accusations

2024-01-18 07:14 ET - In the News

The Globe and Mail reports in its Thursday, Jan. 18, edition that former Gildan Activewear chief executive officer Glenn Chamandy fired back at the company's latest accusations concerning his leadership, saying the board is seeking to unfairly harm his reputation and cast aspersions on his performance. The Globe's Nicolas Van Praet writes that Gildan on Tuesday took aim at Mr. Chamandy's leadership, alleging he had become disengaged from his job, and that he had an undisclosed relationship with an unnamed investor that is now demanding he be rehired. "It is with regret that I observe the board's current focus on a strategy seemingly aimed at undermining my reputation and my record through insinuation and distortion of the truth," Mr. Chamandy said in a statement Wednesday. The board's latest release "barely warrants a response," Mr. Chamandy said. "It continues to reflect an approach that is misguided, misleading, and value-destructive, prioritizing the obsession of board members with their own reputations above all else." Nine dissident investors holding an estimated 35 per cent of Gildan's stock have called publicly for his return. The board says no way. The Globe says neither side shows signs of backing down.

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