Consumer
Gildan Activists Turn Up Heat on Board for Shareholder Vote
- Turtle Creek calls for ‘swift resolution’ to power struggle
- Asset manager says CEO firing was ‘reckless and ill-conceived’
This article is for subscribers only.
Canadian investment firm Turtle Creek Asset Management Inc. is backing another shareholder’s push to change the board of Gildan Activewear Inc., saying the company needs a “swift resolution” to the battle over who should be CEO.
Turtle Creek, one of Gildan’s largest investors, plans to vote for a slate of five new directors proposed last week by Los Angeles-based money manager Browning West LP.