Gildan Activewear Reports on Shareholders’ Voting Results

Rhea-AI Summary

Gildan Activewear held its hybrid annual shareholders' meeting in Montréal on April 30, 2025, where shareholders voted on key resolutions. All eight proposed directors were successfully elected with strong majority support, with Glenn J. Chamandy receiving 99.94% approval and Michael Kneeland securing 95.84% of votes.

The company's shareholders also approved the appointment of auditors with 88.79% support and passed the advisory vote on Executive Compensation ("Say on Pay") with 83% approval. Notable director elections included Anne-Laure Descours (99.93%), Karen Stuckey (99.65%), and Peter Lee (88.63%).

Gildan operates as a leading manufacturer of everyday basic apparel, including activewear, underwear, and socks. The company maintains vertically integrated manufacturing facilities primarily in Central America, the Caribbean, North America, and Bangladesh, marketing products under brands like Gildan®, American Apparel®, and Comfort Colors®.

Positive

• Strong shareholder support with over 99% approval for key directors Glenn Chamandy and Anne-Laure Descours
• 88.79% approval for appointment of auditors showing strong confidence in financial oversight
• 83% shareholder approval on executive compensation package
• Vertically integrated manufacturing facilities across strategic locations (Central America, Caribbean, North America, Bangladesh)

Negative

• 17% shareholders voted against executive compensation, showing notable dissent
• Significant opposition (11.37%) to director Peter Lee's election
• 11.21% votes against auditor reappointment indicates some shareholder concerns

News Market Reaction – GIL

+7.51%

1 alert

+7.51% News Effect

On the day this news was published, GIL gained 7.51%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

MONTRÉAL, April 30, 2025 (GLOBE NEWSWIRE) -- Gildan Activewear Inc. (GIL: TSX and NYSE) (“Gildan” or the “Company”) today announced that the eight nominees proposed as directors in its management proxy circular dated March 18, 2025 were elected as directors of the Company by a majority of the votes cast by the shareholders or represented by proxy at its hybrid annual meeting of shareholders held on April 30, 2025 in Montréal. Gildan also notes that a majority of the votes cast by shareholders were in favour of the non-binding advisory vote on Executive Compensation (“Say on Pay”) and the reappointment of its auditors.

The voting results are detailed below:

	FOR		WITHHELD/AGAINST
	Number	%	Number	%
Resolution 1
Appointment of Auditors	113,566,354	88.79%	14,344,315	11.21%
Resolution 2
Election of Directors
Michael Kneeland	120,184,823	95.84%	5,217,322	4.16%
Glenn J. Chamandy	125,321,401	99.94%	80,741	0.06%
Michener Chandlee	124,844,153	99.56%	557,990	0.44%
Anne-Laure Descours	125,313,548	99.93%	88,595	0.07%
Ghislain Houle	122,884,183	97.99%	2,517,958	2.01%
Mélanie Kau	123,769,180	98.70%	1,632,962	1.30%
Peter Lee	111,142,448	88.63%	14,259,696	11.37%
Karen Stuckey	124,962,647	99.65%	439,495	0.35%
Resolution 3
Advisory Vote on Executive Compensation	104,083,922	83.00%	21,318,217	17.00%

About Gildan
Gildan is a leading manufacturer of everyday basic apparel. The Company’s product offering includes activewear, underwear and socks, sold to a broad range of customers, including wholesale distributors, screenprinters 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^®, and under an exclusive licensing agreement for the printwear channel for Champion^®.

Gildan owns and operates vertically integrated, large-scale manufacturing facilities which are primarily located in Central America, the Caribbean, North America, and Bangladesh. Gildan operates with a strong commitment to industry-leading labour, environmental and governance practices throughout its supply chain in accordance with its comprehensive ESG program embedded in the Company's long-term business strategy. More information about the Company and its ESG practices and initiatives can be found at www.gildancorp.com.

Investor inquiries: Jessy Hayem, CFA Senior Vice-President, Head of Investor Relations and Global Communications (514) 744-8511 jhayem@gildan.com

Media inquiries: Genevieve Gosselin Director, Global Communications and Corporate Marketing (514) 343-8814 communications@gildan.com

FAQ

What was the voting result for Gildan's Say on Pay resolution in April 2025?

83% of shareholders voted in favor of Gildan's Say on Pay resolution, with 104,083,922 votes FOR and 21,318,217 votes AGAINST at the April 30, 2025 annual meeting.

How many directors were elected to Gildan's (GIL) board in the 2025 annual meeting?

Eight directors were elected to Gildan's board, with all nominees receiving strong majority support. The lowest approval was Peter Lee at 88.63%, while Glenn J. Chamandy received the highest at 99.94%.

What percentage of shareholders approved Gildan's auditors at the 2025 annual meeting?

88.79% of shareholders (113,566,354 votes) approved the appointment of Gildan's auditors, while 11.21% (14,344,315 votes) were against.

Which Gildan (GIL) board nominee received the highest shareholder approval in 2025?

Glenn J. Chamandy received the highest shareholder approval with 99.94% of votes (125,321,401 votes) in favor at the 2025 annual meeting.

What was the lowest approval rating among Gildan's board nominees in 2025?

Peter Lee received the lowest approval rating among board nominees with 88.63% of votes in favor, representing 111,142,448 positive votes.