Gildan Activewear Says Full Board Of Directors Has Resigned, And Vince Tyra Has Stepped Down As President And CEO; Sale Process Has Ceased
Portfolio Pulse from Benzinga Newsdesk
Gildan Activewear announced that its entire Board of Directors has resigned, and Vince Tyra has stepped down as President and CEO. The outgoing Board has appointed Browning West nominees to the Board of Directors and has ceased discussions regarding the previously announced sale process.
May 23, 2024 | 9:57 pm
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Gildan Activewear's entire Board of Directors has resigned, and Vince Tyra has stepped down as President and CEO. Browning West nominees have been appointed to the Board, and the sale process has been halted.
The resignation of the entire Board and the CEO, along with the cessation of the sale process, introduces significant uncertainty and potential instability for Gildan Activewear. This is likely to negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100