Anson Funds Calls Calls On The Board Of Gildan Activewear To Re-Appoint Glenn Chamandy As CEO
Portfolio Pulse from Benzinga Newsdesk
Anson Funds, significant shareholders of Gildan Activewear Inc. (NYSE:GIL), are calling for the immediate reinstatement of Glenn Chamandy as CEO. They express concern over the Board's poor handling of succession planning and a backroom deal made with an individual shareholder for board support. Anson Funds criticizes the Board for not engaging with other investors and for spreading false accusations about Chamandy, particularly regarding M&A. They argue that the current CEO, Vince Tyra, lacks the necessary skills for the company's growth.
December 19, 2023 | 6:08 am
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Anson Funds, a significant shareholder, is pushing for the reinstatement of former CEO Glenn Chamandy, criticizing the Board's succession planning and engagement with shareholders.
The call for reinstatement of the former CEO by a significant shareholder could lead to uncertainty in the company's leadership and strategy, potentially affecting investor confidence. However, the outcome is uncertain, and the market's reaction may be neutral until more information is available or actions are taken.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100