May 24th, 2024

New Gildan CEO Vince Tyra updates investors on priorities amid leadership battle

By The Canadian Press on April 15, 2024.

MONTREAL – Gildan Activewear Inc.’s new CEO Vince Tyra gave an update to investors three months into his time leading the company as infighting over his hiring continues.

Tyra outlined his strategic priorities for the company, with a focus on driving growth at the Montreal-based clothing manufacturer.

Gildan has been embroiled in controversy ever since it announced that long-time CEO and co-founder Glenn Chamandy was being replaced.

Since then, several investors including the company’s largest have called for Chamandy’s reinstatement.

One of those investors, Browning West, nominated eight people including Chamandy to the Gildan board for the upcoming annual general meeting May 28.

Some investors have also said the current board can’t be trusted to oversee a potential sale of the company, a possibility that surfaced earlier this year.

This report by The Canadian Press was first published April 15, 2024.

Companies in this story: (TSX:GIL)

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