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Glenn Chamandy officially back at the helm of Gildan after board dispute

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MONTREAL — Glenn Chamandy has officially returned as CEO of Gildan after a months-long public battle to lead the Montreal-based clothing company he co-founded.

MONTREAL — Glenn Chamandy has officially returned as CEO of Gildan after a months-long public battle to lead the Montreal-based clothing company he co-founded.

Chamandy was fired last year to make way for Vince Tyra, sparking protests from several major Gildan shareholders who disagreed with the decision.

Shareholders, led by activist investor Browning West, pushed for Gildan's board of directors to be replaced and co-founder Chamandy to be brought back to the company at the company's annual general meeting next week.

Browning West announced Thursday night that his campaign had been successful, with Gildan's board of directors and new CEO resigning after preliminary votes showed the investor's plan was the clear favorite.

Gildan announced Friday that Chamandy has officially returned as president and CEO, effective immediately.

The company announced that Michael Kneeland is now the non-executive chairman.

This report by The Canadian Press was first published May 24, 2024.

Companies in this story: (TSX:GIL)

The Canadian Press