The Globe and Mail reports in its Thursday, Feb. 1, edition that Browning West, which seeks a leadership change at Gildan Activewear, is dropping its request for a special meeting of shareholders but vowed to push on with its effort to replace a majority of the board. The Globe's Nicolas Van Praet writes that Gildan called the development a "spectacular failure" by one of its biggest shareholders, and proof the firm is not fit to run the company. Gildan says it remains ready and willing to engage with all shareholders to cement a solution that avoids further escalating the corporate drama. Browning West is heading up a campaign of dissident shareholders that want a new board voted in at Gildan in order to bring back ousted chief executive officer Glenn Chamandy. He was dismissed by Gildan in a shock announcement in December and replaced by Vince Tyra. Browning West had been seeking a special meeting of shareholders as a quick way to remove eight of Gildan's 11 sitting directors and replace them with its own nominees. It filed a formal request to Gildan on Jan. 9 for that meeting but the company has challenged its legal validity. Browning West now says it will present its board slate at the annual general meeting instead.