All articles tagged with #gildan activewear
Hanesbrands' stock surged 30% amid reports that it may be acquired by Gildan Activewear in a deal valued at around $5 billion, significantly higher than its previous market value, amidst a challenging year for Hanesbrands due to soft sales and tariffs.
Vince Tyra resigned as CEO of Gildan Activewear Inc. after less than six months, along with the entire board, following a contentious battle with shareholders who reinstated former CEO Glenn Chamandy. Tyra, who has a history of corporate leadership, helped stabilize the company during the dispute but decided to step aside ahead of a crucial shareholder meeting.
Activist investors at Gildan Activewear have successfully pushed for a special meeting to potentially reinstate the company's fired CEO, Glenn Chamandy, who was ousted in December. The board's decision to call the meeting comes after pressure from investment firm Browning West, which has garnered support from other major shareholders. The dispute revolves around allegations of Chamandy's distractions and the board's growth strategy, with the activist investors advocating for his reinstatement due to his past success in the competitive activewear industry. Gildan has challenged the legality of Browning West's increased ownership position and sought to nullify the meeting, but the shareholder dispute continues.