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Gildan Forges Ahead, Business as Usual Perhaps Restored

Gildan new press release came out today. Headline is, “Gildan Activewear Announces Board Refreshment to Support CEO Vince Tyra and Gildan’s Next Phase of Sustainable Growth.”

Synopsis: Investment company Browning West tried to put the old CEO Glenn Chamandy back in charge. He was apparently leading Gildan into uncharted waters and also not headed into the sunset of retiring as promised. He was Mr. Chamandy was shown the door. Browning West board of directors members just were eliminated in a somewhat unusual way called “refreshment.” Outcome: new CEO Vince Tyra will continue his mission, which is business as usual for Gildan.

Not as obvious in the Press Release is the previously announced info that Gildan is for sale and that they have received  “a confidential non-binding expression of interest to acquire Gildan.”

Stay tuned…


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