Jarislowsky Fraser to back Browning West request for Gildan shareholder meeting
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Digital Subscription
One year of digital access for only $205*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*First annual payment billed as $205.00 + GST for one year. This annual subscription will automatically renew at $233.00 + GST every 52 weeks (10% off the regular annual price of $259.35). Offer available to new and qualified returning subscribers only. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Your next Brandon Sun subscription payment will increase by $1.00 and you will be charged $17.95 plus GST for four weeks. After four weeks, your payment will increase to $24.95 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 05/01/2024 (988 days ago), so information in it may no longer be current.
MONTREAL – Investment manager Jarislowsky Fraser says it will support a move by U.S. investment firm Browning West to replace five directors at Gildan Activewear Inc. in an ongoing fight over who should lead the company.
Charles Nadim, head of research and portfolio manager, Canadian equities, at Jarislowsky Fraser says the firm intends to support Browning West and its intent to requisition a special meeting of Gildan shareholders.
The dispute with the company comes after Gildan’s board replaced Glenn Chamandy as chief executive late last year with Vince Tyra. Chamandy has said he was terminated without cause after four decades with the company.
Browning West wants to replace five incumbent directors, appoint Michael Kneeland as chair and reinstate Chamandy as chief executive.
In addition to Jarislowsky Fraser, which is Gildan’s largest shareholder, Turtle Creek Asset Management Inc. and Oakcliff Capital have said they will back the Browning West nominees.
For its part, Gildan’s board has said the decision to remove Chamandy came after he agreed to a succession timeline only to later ask to stay on beyond the original plan.
In a letter to shareholders, Gildan chair Donald Berg, along with the board’s committee chairs, have said the board’s trust and confidence in Chamandy had eroded as it worked to hold him accountable for delivering the next chapter of the company’s long-term growth.
This report by The Canadian Press was first published Jan. 5, 2024.
Companies in this story: (TSX:GIL)