On January 8, 2024, The Board of Directors of Gildan Activewear Inc. issued an open letter to shareholders. In the letter, the Company stated that the CEO?s false narrative designed to hide his ineffective leadership, lack of vision and high-risk go-forward strategy. The Company also stated that its questionable behaviors underscore why new leadership is required for the Company to reach its full potential.

The Company added that its Board of Directors is currently investigating these and other matters, including Glenn Chamandy?s engagement with certain shareholders prior to his termination.