May 25, 2024 – Gildan Activewear Inc.  announced that the Board of Directors has appointed Glenn J. Chamandy as President and Chief Executive Officer and Michael Kneeland as non-executive Chair of the Board, each effective immediately.

Glenn J. Chamandy, Gildan’s co-founder and President and CEO commented “I’m extremely excited to return as Gildan’s CEO and am gratified for the incredible support I have received from both shareholders and employees over the past six months. I’m proud of our dedicated employees for their hard work and focus through a tumultuous period. The resilience of the team and the high quality of our newly seated Board give me great confidence that Gildan’s best days are yet to come.”

Michael Kneeland, Gildan’s Chair of the Board, commented “Gildan has an impressive 40-year history anchored by strong long-term operating results, an outstanding employee base, and a founder who has demonstrated a clear ability to oversee an increasingly global business and has an unrivaled track record of value creation. It is an honour to be joining Gildan as Chair alongside Glenn and the entire slate of directors. We look forward to putting this contest behind us so that we can focus our energy on implementing our operating plan and positioning Gildan for long-term success. As independent directors, we will help usher in accountability and alignment at Gildan. The interests of the Company and its stakeholders will remain relentlessly in focus under the new Board.”