Ex-Goldman Executive Tears Into ‘Drama-Seekers' in Gildan Boardroom Battle [BNN Bloomberg (Canada)]
Walmart Inc. (WMT)
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Source: BNN Bloomberg
“We need the egos and the drama-seekers to get away so we can get on with creating value,” Tim Hodgson, who was announced as Gildan's incoming chair on Monday morning, said in an interview. Gildan is one of the world's largest makers of cheap T-shirts, the owner of the American Apparel brand and a supplier to Walmart Inc. and Nike Inc. But the Canadian company has been embroiled for months in a bitter fight with several of its largest investors over who should be in charge in the boardroom and the chief executive officer's suite. Hodgson will have to contend with Los Angeles-based Browning West LP, which is campaigning to install eight new directors, including United Rentals Inc. Chair Michael Kneeland, and to bring back longtime CEO Glenn Chamandy, who was fired in December after disagreements about the company's strategy. On Monday, Gildan's board appeared to seek a way out of a battle it may be losing. The company announced that seven out of its 12 directors will leave on th
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