Gildan Activewear former CEO Chamandy issues statement

Glenn Chamandy, former President and CEO and co-founder of Gildan Activewear issued the following statement: “Contrary to media reports, I gave no ultimatum to Gildan’s board with respect to any strategy or potential acquisitions. This is a sideshow to distract from the reaction the shareholders have had with respect to the board’s handling of succession planning, in which I was not involved. I did not and could not orchestrate or control the events; the board conducted the process. I do believe, it is essential that a leadership transition be conducted in a manner consistent with Gildan’s successful track record. Preserving our talent, culture and expertise – the pillars of our success – is vital. Obviously considering shareholder engagement is integral to the decision-making process.”