Browning West Issues Letter to Gildan Activewear Shareholders Announcing Intent to Requisition Special Meeting to Reconstitute Board of Directors
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Friday, December 29, 2023
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Today, Browning West issued a letter to shareholders announcing its intent to requisition a Special Meeting of Gildan Shareholders (the “Special Meeting”) to provide shareholders an opportunity to reconstitute Gildan’s Board of Directors (the “Board”) by removing five incumbent directors and installing five highly qualified individuals: Michael Kneeland, Glenn Chamandy, Peter Lee, Karen Stuckey, and J.P. Towner.
Key Points:
- Today, Browning West issued a letter to shareholders announcing its intent to requisition a Special Meeting of Gildan Shareholders (the “Special Meeting”) to provide shareholders an opportunity to reconstitute Gildan’s Board of Directors (the “Board”) by removing five incumbent directors and installing five highly qualified individuals: Michael Kneeland, Glenn Chamandy, Peter Lee, Karen Stuckey, and J.P. Towner.
- Browning West is a significant and long-term shareholder of Gildan, with a beneficial ownership position of approximately 5.0% of the Company’s outstanding shares.
- We expect that Mr. Kneeland and the re-constituted Board will reassess committee composition and reassign committee chair roles.
- Gildan’s Board has demonstrated it is unwilling to act in the best interest of the Company and its shareholders.