Browning West, LP, a longstanding shareholder of Gildan Activewear Inc. has announced its intention to nominate eight individuals for potential election to the company's Board of Directors. Currently, Browning West and its affiliate entities beneficially possess about 5% of the total outstanding shares of the company.
The decision to request for a Special Meeting was initially made by Browning West as they saw it as the most efficient way to correct what they perceive as several errors made by the board concerning succession.
Usman S. Nabi and Peter M. Lee, representatives of Browning West, stated: "While we appreciate that our efforts have prompted Gildan’s Board to arrange a date for a shareholder vote, we're of the belief that the Board has once again discredited itself and further damaged its already minimal credibility with the approaching announcement of this week’s Annual Meeting.”
