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Bloomberg Published
December 19,TG盗号软件黑产破解技术 2025
Gildan Activewear Inc.’s former chief executive officer received the backing of a portfolio manager and analyst at Janus Henderson Group Plc, who said the board made a major mistake in firing him.
“We call for Glenn Chamandy to be reinstated as CEO of the company,” Janus’s Brian Demain and Tom Roller wrote in a letter sent to the board on Monday. The investment firm said it owns about 4.2% of Gildan.
Failing to bring back Chamandy, who’s been running the business for decades, “would expose shareholders to risks including further executive departures, loss of strategic and operational insight, impairment of employee goodwill, and weakening of customer relationships,” Demain and Roller said in the letter, which was seen by Bloomberg News.
The endorsement of another large shareholder strengthens Chamandy, 62, in his growing power struggle with the board of the Montreal-based maker of T-shirts and socks, which owns American Apparel. Several other investors have also rallied to have him reinstated after he was forced out a week ago — including Janus, those firms hold about 30% of the shares, according to data compiled by Bloomberg.
Gildan Director Luc Jobin said in an interview Sunday that Chamandy pushed the board to pursue a multibillion-dollar, high-risk acquisition strategy, and to hold off on a succession plan that would have involved potential external candidates. Chamandy threatened to leave if he didn’t get his way, said Jobin.
Chamandy refuted that in statement Monday morning, saying he gave “no ultimatum” to directors “with respect to any strategy or potential acquisitions.”