Achi news desk-
Gildan Activewear’s board members resigned en masse, and the company’s president and CEO, Vince Tierra, decided to step down.
The Montreal-based manufacturer made the announcement late Thursday in a brief press release.
It noted that the outgoing board appointed Browning West’s nominees to the board, effective Thursday.
Tyra’s departure was also effective at the same time.
The company also reported that the outgoing board of directors has finished the discussions surrounding the previously announced sale process.
Ahead of Gildan’s annual meeting on May 28, “the shareholders have clarified their position,” the statement said.
“The outgoing directors believe that it is in the best interest of all of Gildan’s stakeholders that they resign and not seek re-election at the next annual meeting, in order to allow the new board to take office and supervise the company’s activities in an optimal way. It is possible in an orderly and efficient manner,” said Gildan.
The press release concludes that “the outgoing directors wish the new directors, the management team, Gildan’s 45,000 employees and its shareholders great success.”
This report by The Canadian Press was first published in French on May 23, 2024.
