Gildan's board abruptly resigns ahead of annual meeting, handing control to activist
Gildan Activewear (GIL) cnbc.com·2024-05-24 06:42
Gildan Activewear said on Thursday that its entire 12-person board would resign immediately in favor of activist Browning West's eight nominees, abruptly ending a contentious proxy battle and restoring former CEO Glenn Chamandy to the company he founded.Browning West along with a significant number of Gildan shareholders had been fighting to bring back Chamandy as CEO, after he was ousted in December in favor of Vince Tyra, who was brought in from Houchens Industries. The activist firm later claimed Gildan' ...