Previous directors of the Canadian apparel manufacturer filed a $25.6-million lawsuit against the company on March 7, claiming they didn’t receive deferred compensation after an activist shareholder campaign last year prompted their resignation. (The Globe and Mail)
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Previous directors of the Canadian apparel manufacturer filed a $25.6-million lawsuit against the company on March 7, claiming they didn’t receive deferred compensation after an activist shareholder campaign last year prompted their resignation. (The Globe and Mail)
Talking point: The Montreal-headquartered firm had a months-long boardroom spat that began at the end of 2023, when former chief executive Glenn Chamandy was ousted by the board due to a succession disagreement. Vince Tyra took over as CEO. Then, in a rare turn of events, Gildan institutional shareholders, including Los Angeles-based activist investor Browning West, pushed for Chamandy to return as chief executive. The board refused, and all 10 directors, including former chair Donald Berg—a claimant in the lawsuit—stepped down before a shareholder vote reinstated Chamandy.
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