Reported 6 months ago
Gildan Activewear Inc.'s entire board of directors and CEO Vince Tyra resigned, conceding to activist shareholder Browning West LP after a five-month battle over the future of the Canadian clothing maker. Browning West gains control, appointing United Rentals Inc. Chair Michael Kneeland as chair and reinstating Glenn Chamandy as CEO. The board decision followed shareholders' preferences before an investor meeting scheduled for May 28, stopping ongoing sale discussions. The public feud centered on leadership and direction, with Browning West supporting Chamandy's reinstatement to boost shareholder value.
Source: YAHOO