Gildan Appoints Glenn Chamandy as President and CEO and Michael Kneeland to serve as Chair of Board of Directors
25 May 2024: Gildan Activewear Inc. has announced the immediate appointment of Glenn J. Chamandy as President and Chief Executive Officer, and Michael Kneeland as non-executive Chair of the Board.
Glenn J. Chamandy, co-founder of Gildan and a newly appointed President and CEO, expressed his enthusiasm about returning to the role of CEO. He expressed gratitude by stating, “I’m extremely excited to return as Gildan’s CEO and am gratified for the incredible support I have received from both shareholders and employees over the past six months. I’m proud of our dedicated employees for their hard work and focus through a tumultuous period. The resilience of the team and the high quality of our newly seated Board gives me great confidence that Gildan’s best days are yet to come.”
Michael Kneeland, the new Chair of the Board, praised Gildan’s impressive 40-year history, strong long-term operating results and dedicated employee base. He acknowledged the clear ability of the founder to manage an increasing global business and create value. He stated, “It is an honour to join Gildan as Chair alongside Glenn and the entire board of directors. We are eager to move past this contest and focus on implementing our operating plan and positioning Gildan for long-term success. As independent directors, we will usher in accountability and alignment at Gildan. The interests of the Company and its stakeholders will remain our primary focus under the new Board.”
Gildan will hold its previously announced annual meeting of shareholders on 28th of May, at 10:00 AM EDT. Due to the resignation of the prior directors on May 23 and their decision not to present themselves for election at annual meeting, only current directors of Company will be presented for election.
Gildan is a leading manufacturer of everyday basic apparel. The Company’s product offering includes activewear, underwear and socks that is sold to a broad range of customers, including wholesale distributors, screen printers or embellishers, as well as to retailers that sell to consumers through their physical stores and/or e-commerce platforms and to global lifestyle brand companies. The Company markets its products in North America, Europe, Asia Pacific, and Latin America, under a diversified portfolio of Company-owned brands including Gildan®, American Apparel®, Comfort Colors®, GOLDTOE® and Peds®.
www.gildancorp.com
