Gildan Activewear (PPAI 250187, S13) – ranked the No. 38 supplier in the inaugural PPAI 100 – has announced that Glenn J. Chamandy is no longer president, CEO and director of the Montreal, Canada-based company.

“Over the span of his 40-year career, Glenn has been a forerunner in our industry, taking Gildan from a small family-owned business to a leading apparel company with over $3 billion in revenues,” says Donald C. Berg, chairman of Gildan’s board of directors. “We thank Glenn for his service and wish him well.”

Chamandy, who spent four decades at Gildan and nearly 20 years as president and CEO, has issued a statement that he was terminated “without cause” by the firm on Sunday, December 10.

“It’s unfortunate that my vision of the path forward has differed from that of other board members,” Chamandy says. “I’m 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,” Chamandy adds. “I also wish to express my gratitude to our exceptional customers, who have supported us through thick and thin.”

Gildan’s New Leader

Vince Tyra has been appointed president and CEO of Gildan, effective February 12, 2024.

“I’m looking forward to joining Gildan early in the new year,” Tyra says. “It’s a truly iconic business with an unparalleled global reputation. I look forward to working closely with the board and the senior executive team, and all of the extremely talented employees to leverage their knowledge and expertise so that we continue maximizing value for all of Gildan’s stakeholders.”

Gildan has also announced that Craig A. Leavitt, a company director since 2018, will serve as interim president and CEO until Tyra assumes his new position.

“In my brief tenure as interim president and CEO, it will be my privilege to work with this great team to ensure continued orderly operations of this highly profitable enterprise and ensure a successful transition for Vince as our new leader,” Leavitt says. “Gildan is well positioned to build upon our strong market share and best-in-class capabilities.”

Tyra’s Background

Tyra is no stranger to the apparel industry.

Tyra also has deep financial industry experience, having been an operating partner at Southfield Capital, where he was a member of the Investment Committee.

  • Most recently, he served as senior vice president of corporate strategy and mergers and acquisitions at Houchens Industries.
  • He has also served as the University of Louisville’s vice president and director of intercollegiate athletics.

“The board is confident that Vince is the right person to lead the company into the next stage of its evolution and growth,” Berg says. “He has an extensive career as a global organization leader with experience as an apparel industry executive, an operator, an investor and transitioning founder-led companies. Vince’s diverse professional background will provide the necessary leadership skills to propel Gildan to even greater success.”