01:18:24 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
Recent Sedar Documents

FP/wire say Gildan Activewear targets Chamandy e-mails

2024-01-18 08:01 ET - In the News

The Financial Post reports in its Thursday edition that officials at Gildan Activewear, which is in a dispute with former chief executive officer Glenn Chamandy, have begun digging through his e-mails to back up the board's claim he was a "disengaged" executive. A Bloomberg dispatch to the Post reports that Gildan directors are trying to make the case they were justified in firing Mr. Chamandy in December. Among other things, they have accused him of trying to pursue high-risk deals and becoming distracted by personal projects, such as a golf course in Barbados. "Gildan has now learned that Mr. Chamandy sent no more than a handful of work e-mails a day and had few business-related meetings diarized," the company said in a statement. For the past month, Gildan directors have been involved in a hostile and public fight with Mr. Chamandy and a number of major shareholders who support him. The dissident investor group is led by Browning West, which owns about 5 per cent of Gildan's shares. On Tuesday, Gildan also said Mr. Chamandy placed his own money into funds managed by one of the investment firms that is now lobbying for his return. It did not name the firm, but an unnamed source said it is not Browning West.

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