MONTREAL, Dec. 18, 2023 /PRNewswire/ – Glenn J. Chamandy, former President and CEO and co-founder of Gildan Activewear Inc. (TSX: GIL) (NYSE: GIL) (“Gildan” or the “Company“), today issued the following statement:

Contrary to media reports, I gave no ultimatum to Gildan’s board with respect to any strategy or potential acquisitions.

This is a sideshow to distract from the reaction the shareholders have had with respect to the board’s handling of succession planning, in which I was not involved. I did not and could not orchestrate or control the events; the board conducted the process.

I do believe, it is essential that a leadership transition be conducted in a manner consistent with Gildan’s successful track record. Preserving our talent, culture and expertise – the pillars of our success – is vital. Obviously considering shareholder engagement is integral to the decision-making process.

SOURCE Glenn J. Chamandy