STATEMENT BY GLENN J. CHAMANDY FOLLOWING FOUR DECADES OF SERVICE TO GILDAN ACTIVEWEAR

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Gildan Activewear Inc. (TSX: GIL) (NYSE: GIL) CEO Glenn J. Chamandy terminated without cause after 40 years of service. Chamandy expresses pride in the company's success and gratitude to employees, shareholders, and customers.

MONTREAL, Dec. 11, 2023 /PRNewswire/ - Glenn J. Chamandy, President and CEO and co-founder of Gildan Activewear Inc. (TSX: GIL) (NYSE: GIL) ("Gildan" or the "Company"), today issued the following statement following four decades of service to the Company, including nearly 20 years as President and CEO:

Yesterday, I received notice from the Chairman of Gildan Activewear's Board of Directors that the Company was terminating my employment agreement without cause. It is unfortunate that my vision of the path forward has differed from that of other Board members.

This comes after 40 years of service in the impressively successful company founded by my family.

I am immensely proud of the robust and highly competitive organization we built over more than four decades of unwavering efforts to be the best in every market where we compete. The value created by our great team is impressive by any standard.

I hold our dedicated employees in the highest regard and am continually humbled by the steadfast support from our actively engaged shareholders. I also wish to express my gratitude to our exceptional customers, who have supported us through thick and thin.

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SOURCE Glenn J. Chamandy

FAQ

Why was Glenn J. Chamandy terminated from Gildan Activewear Inc. (GIL)?

Glenn J. Chamandy's employment agreement was terminated without cause by the Company's Board of Directors.

What are the ticker symbols for Gildan Activewear Inc.?

The ticker symbols for Gildan Activewear Inc. are TSX: GIL and NYSE: GIL.

How long did Glenn J. Chamandy serve as President and CEO of Gildan Activewear Inc.?

Glenn J. Chamandy served nearly 20 years as President and CEO after 40 years of service to the company.

What did Glenn J. Chamandy express in his statement following his termination?

Chamandy expressed pride in the company's success and gratitude to employees, shareholders, and customers.

Who issued the statement following Glenn J. Chamandy's termination?

The statement was issued by Glenn J. Chamandy.