The Globe and Mail reports in its Tuesday edition that activist investor Browning West has rejected Gildan Activewear's plan to refresh its board of directors. The Globe's Andrew Willis writes that on Monday Browning West said it remained committed to electing its own slate of eight board members and reinstalling co-founder and former chief executive officer Glenn Chamandy. Gildan's board intends to stick with CEO Vince Tyra, who took the job in January. Shareholders are scheduled to vote on the competing slates of directors at the company's annual meeting on May 28. Browning West said in a statement: "The board's list of failures grows by the week. The most glaring omission in the board's latest manoeuvre is its failure to reinstate Glenn as CEO and its unwavering commitment to Vince Tyra." In the statement, Mr. Chamandy said, "The Browning West slate represents the best board for all Gildan stakeholders." On Monday, Browning West said the board's decision to put forward new directors while Gildan is on the auction block shows the sales process has failed. In its statement, the fund manager said, "We believe that today's announcement was likely triggered by the collapse of the board's reactive sale process."