Consumer

Browning West Seeks Five Seats on Gildan’s Board, Escalating Fight Over Ousted CEO

Firm says shareholders have ‘lost confidence’ after CEO firing
Seeks board seat for fired CEO Glenn Chamandy, four others

The investment fund held a 3.9% stake in the company as recently as Sept. 30, but said it raised it’s ownership level to approximately 5%. — The investment fund held a 3.9% stake in the company as recently as Sept. 30, but said it raised it’s ownership level to approximately 5%.
Photographer: Graham Hughes/Bloomberg

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By Geoffrey Morgan

December 29, 2023 at 7:10 PM UTC

Updated on

December 30, 2023 at 12:25 AM UTC

This article is for subscribers only.

Browning West LP is demanding five seats on Gildan Activewear Inc.’s board as the Los Angeles-based investment firm escalates its fight with the Canadian T-shirt maker over the surprise firing of its CEO earlier this month.

Gildan’s deposed top executive, Glenn Chamandy, and Browning West Partner Peter Lee are among the firm’s proposed board nominees. It sent a letter to Gildan warning that it plans to requisition a meeting of shareholders to vote on the matter.