Statement By Glenn J. Chamandy, Former President And CEO, In Response To The Open Letter To Shareholders Issued By Gildan Activewear's Board Of Directors; Says "The Board's Unfortunate Actions Have Resulted In A Massive Loss Of Shareholder Value."
Portfolio Pulse from Benzinga Newsdesk
Glenn J. Chamandy, former President and CEO of Gildan Activewear, criticized the company's board for actions he believes have undermined his record and damaged the company's reputation, leading to a significant loss in shareholder value. He disputes the board's claims and emphasizes the long-range plan presented in October 2023, which showed promising growth prospects for Gildan.
January 09, 2024 | 1:19 pm
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Glenn Chamandy, ex-CEO of Gildan Activewear, accuses the board of actions leading to a loss of shareholder value and tarnishing the company's reputation.
Chamandy's statement directly criticizes the board's actions, which he claims have resulted in a 'massive loss of shareholder value.' This public dispute between a former CEO and the current board could lead to negative sentiment among investors and potentially impact the stock price negatively in the short term.
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