Consumer
Gildan Battle Heats Up as Ousted CEO Chamandy, Shareholder Fire Back at Board
- Former chief Chamandy accuses board of ‘recklessness’
- Company is reviewing investor’s request for special meeting
After two decades at the helm of the company, Chamandy was removed on Dec. 10 and replaced by former Fruit of the Loom executive Vince Tyra.
Photographer: Graham Hughes/BloombergThis article is for subscribers only.
Gildan Activewear Inc.’s ousted chief executive officer fired back at the board over its recent letter questioning his leadership, saying he took offense at the action and blasting directors for disclosing the clothing company’s confidential plans.
“The board’s self-serving motives, designed to distract from its own recklessness, have led them to lose sight of what is truly important — the best interests of the company,” former CEO Glenn Chamandy said in a letter Tuesday.