STATEMENT BY GLENN J. CHAMANDY

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Former President and CEO Glenn J. Chamandy of Gildan Activewear Inc. (TSX: GIL) (NYSE: GIL) refutes media reports about giving an ultimatum to Gildan's board regarding strategy or acquisitions. He emphasizes the importance of a successful leadership transition while preserving the company's talent, culture, and expertise, considering shareholder engagement integral to the decision-making process.

MONTREAL, Dec. 18, 2023 /PRNewswire/ - Glenn J. Chamandy, former President and CEO and co-founder of Gildan Activewear Inc. (TSX: GIL) (NYSE: GIL) ("Gildan" or the "Company"), today issued the following statement:

Contrary to media reports, I gave no ultimatum to Gildan's board with respect to any strategy or potential acquisitions.

This is a sideshow to distract from the reaction the shareholders have had with respect to the board's handling of succession planning, in which I was not involved. I did not and could not orchestrate or control the events; the board conducted the process.

I do believe, it is essential that a leadership transition be conducted in a manner consistent with Gildan's successful track record. Preserving our talent, culture and expertise - the pillars of our success - is vital. Obviously considering shareholder engagement is integral to the decision-making process.

View original content:https://www.prnewswire.com/news-releases/statement-by-glenn-j-chamandy-302017849.html

SOURCE Glenn J. Chamandy

FAQ

What is the name of the former President and CEO of Gildan Activewear Inc.?

The former President and CEO is Glenn J. Chamandy.

What is the ticker symbol for Gildan Activewear Inc. on the Toronto Stock Exchange?

The ticker symbol for Gildan Activewear Inc. on the Toronto Stock Exchange is GIL.

What did Glenn J. Chamandy refute in his statement?

Glenn J. Chamandy refuted media reports about giving an ultimatum to Gildan's board regarding strategy or acquisitions.

What did Glenn J. Chamandy emphasize in his statement?

Glenn J. Chamandy emphasized the importance of a successful leadership transition while preserving the company's talent, culture, and expertise.

What did Glenn J. Chamandy consider integral to the decision-making process?

Glenn J. Chamandy considered shareholder engagement integral to the decision-making process.