Welcome to our dedicated page for Gildan Activewr news (Ticker: GIL), a resource for investors and traders seeking the latest updates and insights on Gildan Activewr stock.
Gildan Activewear Inc. (GIL) is a leading vertically integrated manufacturer of basic clothing and activewear, renowned for brands like Gildan, Gold Toe, and Comfort Colors. This page serves as the definitive source for all official company announcements and market-moving developments.
Investors and industry professionals will find curated press releases covering quarterly earnings, strategic partnerships, manufacturing expansions, and product innovations. Our news collection enables stakeholders to track GIL's operational milestones within the global apparel sector, from supply chain initiatives to retail distribution updates.
All content is organized chronologically with clear sourcing to ensure transparency. Key coverage areas include sustainability progress, wholesale channel updates, and licensing agreements with major lifestyle brands. Bookmark this page for real-time access to GIL's financial communications and operational announcements that shape its market position.
Gildan Activewear (GIL: TSX and NYSE) has received approval from the Toronto Stock Exchange to amend its Normal Course Issuer Bid (NCIB) to increase the maximum number of shares repurchasable from 8,778,638 to 17,124,249. This decision follows the Annual General Meeting of shareholders on May 28, 2024. The NCIB, originally commenced on August 9, 2023, will now allow Gildan to repurchase up to 10% of its public float as of July 31, 2023. The share buybacks are part of Gildan's broader strategy to return capital to shareholders, supported by strong free cash flow and a robust balance sheet. Purchases may be done through open market transactions on the TSX and NYSE, or via other approved methods. Since the NCIB's inception, Gildan has repurchased and canceled 8,611,018 shares, costing $272.5 million. The Board believes this repurchase program will not hinder Gildan’s ability to pursue organic growth and acquisitions.
Gildan Activewear (GIL) reported the results of its annual shareholder meeting held on May 28, 2024. All eight director nominees were elected by an overwhelming majority, following the resignation of the prior board on May 23, 2024. Additionally, shareholders approved the reappointment of auditors and a non-binding advisory vote on Executive Compensation, while rejecting a shareholder proposal. The vote results for directors ranged from 82.82% to 99.00% in favor. The advisory vote on executive compensation saw 73.77% approval, and the shareholder proposal was rejected by 86.48%.
Gildan Activewear (GIL: TSX and NYSE) has appointed co-founder Glenn J. Chamandy as President and CEO, effective immediately. Michael Kneeland will serve as the non-executive Chair of the Board. Chamandy expressed excitement about his return and confidence in the company's future, crediting the resilience of Gildan's employees and the quality of the new Board. Kneeland highlighted Gildan's strong history and operational results, emphasizing the new Board's focus on accountability and long-term success. The annual shareholder meeting will proceed on May 28, with eight director nominees, including Chamandy and Kneeland, up for election following the resignation of the prior directors.
Browning West announced the successful replacement of Gildan Activewear's entire Board of Directors with an eight-member slate. A significant 5.7% shareholder in Gildan, Browning West's new board includes Michael Kneeland and Glenn Chamandy, who will be reinstated as CEO. Browning West highlighted the overwhelming shareholder support for the new board and criticized the previous board's resistance, which included significant financial expenditures. The new leadership aims to restore stability and enhance long-term shareholder value.
Gildan Activewear (GIL) has undergone significant leadership changes with the resignation of its entire Board of Directors and the stepping down of Vince Tyra as President and CEO, effective May 23, 2024. Browning West nominees will replace the outgoing Board members. Additionally, the previously announced sale process has been canceled. This decision aligns with shareholders' feedback ahead of the May 28, 2024 Annual Meeting. The outgoing directors believe this transition is in the best interest of all stakeholders, ensuring a smooth and efficient changeover for the new Board to guide the company forward.
Institutional Shareholder Services Inc. (ISS), a leading proxy advisory firm, has recommended Gildan Activewear shareholders vote for all eight of Browning West's director candidates, including former CEO Glenn Chamandy, using the GOLD Proxy Card at the May 28, 2024 Annual Meeting. ISS suggested withholding support for Gildan's ten-member board. ISS cited Gildan's strong performance under Chamandy and criticized the board's decision to remove him as weak and inconsistent. Browning West, holding 5% of Gildan's shares, aims to reinstate Chamandy and believes their nominees offer superior experience and governance.
Gildan Activewear (GIL) has released an investor presentation to support its director nominees ahead of the 2024 Annual Meeting on May 28, 2024. The presentation emphasizes the need for leadership change, criticizing former CEO Glenn Chamandy’s lack of a credible growth strategy. The board supports Vince Tyra as the new CEO, highlighting his track record in value creation and talent development. The presentation also criticizes Browning West’s nominee Peter Lee as unqualified. Shareholders are encouraged to vote using the BLUE proxy card and avoid Browning West's gold proxy card.
Browning West, a shareholder owning 5% of Gildan Activewear's shares, announced the dismissal of two lawsuits filed by Gildan's Board. The Quebec Superior Court dismissed a Hart-Scott-Rodino Act violation claim, asserting that the issue should be settled at the upcoming shareholders' meeting on May 28, 2024. The Quebec Financial Markets Administrative Tribunal also dismissed another application, stating it served private interests. Browning West aims to elect eight new board members, including reinstating Glenn Chamandy as CEO, to implement a plan for long-term shareholder value.
Gildan Activewear's Board of Directors has issued a letter urging shareholders to vote “FOR” all Gildan's nominees, including Karen Stuckey and J.P. Towner, on the BLUE proxy card at the upcoming 2024 Annual Meeting on May 28. The activist investor, Browning West, seeks to replace eight directors and reinstall former CEO Glenn Chamandy. The Board argues this poses a threat to investment stability and emphasizes the newly refreshed Board's mix of experience and skills, including five recently appointed independent directors. The Board highlights Chamandy's past performance issues and the disruptions his reinstatement could cause.
Browning West, LP, a long-term shareholder of Gildan Activewear (NYSE: GIL), released a presentation urging the election of eight new directors to Gildan's Board at the upcoming Annual and Special Meeting on May 28, 2024. Browning West, owning 5% of Gildan's shares, argues for an urgent leadership change to improve returns for shareholders. The proposed slate includes Michael Kneeland, Glenn J. Chamandy, Michener Chandlee, Ghislain Houle, Mélanie Kau, Peter Lee, Karen Stuckey, and J.P. Towner. More details and voting instructions are available at www.SuperchargeGildan.com.
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