Major Gildan Activewear shareholders criticize board's sale process amidst internal turmoil following CEO's dismissal.
Some major Gildan Activewear Inc. shareholders criticize the sale process conducted by the board, calling it "unintelligent and irresponsible." Turtle Creek Asset Management, owning 2.6% of Gildan's shares, argues that the board should not entertain offers while the company is embroiled in a boardroom battle. Gildan has been in turmoil since it fired longtime CEO Glenn Chamandy in December, leading to a fight over who should lead the firm.
March 25, 2024
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