Rebel Gildan Executives Push for Board Change, Return of Ex-CEO Chamandy
- Bringing back fired boss is ‘vital’ for success, they say
- LA-based Browning West is trying to win eight board seats
A Gildan distribution center in Jacksonville, Florida
Photographer: Agnes Lopez/BloombergThis article is for subscribers only.
Some executives of clothing maker Gildan Activewear Inc. are urging investors to support an activist shareholder that’s trying to win control of the board and reinstate fired Chief Executive Officer Glenn Chamandy.
The executives have written a letter, addressed to Gildan shareholders, saying that it’s “critical” to bring back Chamandy — who ran the company for decades before he was ousted late last year — and end a long power struggle. Investors will vote to choose a board on May 28.