MONTREAL — Gildan Activewear Inc.’s new CEO Vince Tyra gave an update to investors three months into his time leading the company as shareholder infighting...
MONTREAL — Gildan Activewear Inc.’s new CEO Vince Tyra gave an update to investors three months into his time leading the company as shareholder infighting over his hiring continues.
Those investors include the company’s largest shareholder, Jarislowsky Fraser, which as of the end of 2023 owned 7.05 per cent of Gildan shares. Gildan said last month that it has formed a special committee of independent directors to consider a "non-binding expression of interest" from an unnamed potential purchaser and contact other potential bidders.
The clothing manufacturer saw profits rise in its fourth quarter to US$153.3 million, up from US$83.9 million a year earlier. One of his priorities is to successfully execute supply chain initiatives launched before his time as CEO. "International markets were pursued opportunistically, often prioritizing available product to the U.S. and shorting international deliveries," he said.As part of that, he said it's important that Gildan considers local needs and tastes as it looks to grow its market share outside the U.S., prioritizing "surgical product introductions" over a "one-size-fits-all approach.
Market Share Glenn Chamandy Gildan Activewear Browning West Investors Clothing Manufacturer
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