A Look Back on the Wild Proxy Fight for Control of Gildan
Fired in December, Glenn Chamandy returned as president/CEO of the Top 40 supplier in late May, capping a corporate war that had lasted months.
After being ousted as president/CEO of the multibillion-dollar global apparel manufacturer that he co-founded, Glenn Chamandy vowed that he would return to the firm’s C-suite and board of directors.
He was right.
Following a virulent proxy fight that played out in the public sphere over a roughly six-month span, Chamandy was reappointed CEO/president and elected to a seat on Top 40 supplier Gildan’s (asi/56842) board of directors in late May. None of the former board members who terminated him remain.
On May 28, shareholders in the publicly traded company also voted in eight new board directors – all proposed by activist investors loyal to Chamandy and supportive of his new tenure in charge of Gildan. In this Promo Insiders, ASI Media editors recap the crazy corporate saga and its dramatic conclusion.