The Board of Directors of Gildan Activewear Inc. (GIL: TSX and
NYSE) (“Gildan” or “the Company”) is pleased to announce that Vince
Tyra will assume the role of President and Chief Executive Officer
on Monday, January 15, 2024. At the Board’s request, Mr. Tyra has
made himself available to move the start date from February 12 to
respond to requests to engage early with key stakeholders and bring
needed stability and leadership to the Company as it embarks on its
next chapter of success.
“When the Board began the external phase of the CEO search back
in May of 2023, we knew that scaling the Company in an increasingly
complex and competitive environment demanded a hands-on CEO with
fresh ideas, deep apparel experience, a keen understanding of
manufacturing and expertise in areas like marketing, merchandising
and product development. After a robust selection process that
evaluated both internal and external candidates, we selected Vince
as the next chief executive of Gildan Activewear,” said Donald C.
Berg, Chairman of the Board.
Few people have had the opportunity to demonstrate their
leadership skills across such an impressive range of industries and
managerial challenges as Vince. And while the experiences vary, the
throughline of his career is using his financial acumen, sound
management and ability to build teams and motivate people around a
shared strategy and vision to improve the companies and
organizations he has led.
Vince has had a stellar career. He invested in and grew his own
activewear business in his twenties utilizing Gildan as a key
supplier. Based on that early success, he then joined Fruit of the
Loom where the Board of Directors promoted him to president in the
company’s darkest hour to develop and implement a restructuring
plan that put Fruit of the Loom back on sound financial footing
ahead of its eventual sale to Berkshire Hathaway.
Bain Capital noticed Vince’s turnaround work at Fruit of the
Loom and hired him to be CEO of Broder Bros., a leading apparel
distributor, successfully following in the founder’s footsteps. In
his six years as CEO of Broder, Vince tripled revenue and made it
an industry leader. Bain Capital later introduced Vince to
Southfield Capital, where he went on to a successful career in
private equity. Vince has served on the Board of Directors at 10
companies and stepped in as interim CEO at three to help each move
toward successful financial exits.
Yoo Jin Kim was a Principal at Bain Capital when Mr. Tyra was
CEO of then Bain-owned Broder Bros. Mr. Kim later introduced Mr.
Tyra to the founder of Southfield Capital.
“With almost 30 years of private equity investing experience, I
have worked with countless CEOs in multiple industries. Vince was
in the top-tier of those executives given his leadership strengths,
ability to build strong teams and culture, financial performance,
acquisition experience, and solid character…Gildan is very
fortunate to have Vince as its next leader. I have tremendous
confidence in the company’s future under his stewardship,” said Mr.
Kim.
In 2017, Vince took on perhaps the most challenging turnaround
of his career, fixing the scandal-plagued Athletics Program at the
NCAA powerhouse University of Louisville. Under his leadership,
Vince established a new culture of excellence and compliance while
rebuilding the sports program. He led decisively to replace
coaches, negotiate the stadium naming rights, set new fundraising
records, oversee the highest graduation rate, stabilize the
department’s finances and establish a respected Leadership
Development Program at the Business School that has trained
hundreds of senior executives.
J. David Grissom, the former Vice Chairman of PNC Financial, was
Chairman of the Board of Trustees at the University of Louisville
when the Board hired Vince:
“Vince Tyra has an outstanding reputation as a leader. The Board
of Trustees hired him to clean up the Athletics Program that had
been tarnished by scandal and controversy. He quickly made a
significant difference. Vince listened, evaluated the situation,
and then made the hard decisions needed to restore the integrity of
the program. Vince is a calm, confident and firm leader. He never
looks for headlines. He started every meeting by asking ‘What’s the
right thing to do here?’ His moral compass is in the right place.
Gildan’s Board of Directors will never regret its decision to hire
Vince Tyra as CEO.”
Most recently, Vince led corporate strategy for Houchens
Industries, a $4 billion revenue employee-owned holding company.
Dion Houchins is the CEO and Chairman of Houchens:
“In a short period of time, Vince proved himself to be an
invaluable member of the Houchens executive leadership team.
Vince’s experience as a leader in a variety of industries prior to
joining Houchens made him a perfect fit for assessing and making
strategic recommendations with regards to potential acquisitions as
well as tweaking the direction and strategy for the existing
Houchens portfolio. Vince’s ability to drill down into the
complexities of a business and make a sound evaluation is a skill
set honed by over 35 years of high-level business experience. Vince
was the right person at the right time for Houchens, and we are a
stronger company for having had him. Given the right tools and
proper support, Gildan employees and shareholders will see similar
benefits from his leadership. Vince is a business professional in
every sense of the word.”
The Board welcomes Vince to Montreal and looks forward to
working with him as he builds on Gildan’s strong foundation and
positions the Company for continued success in the future.
Caution Concerning Forward-Looking
Statements
Certain statements included in this press release constitute
“forward-looking statements” within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 and Canadian securities
legislation and regulations and are subject to important risks,
uncertainties, and assumptions. This forward-looking information
includes, amongst others, information with respect to our
objectives and strategies. Forward-looking statements generally can
be identified by the use of conditional or forward-looking
terminology such as “may”, “will”, “expect”, “intend”, “estimate”,
“project”, “assume”, “anticipate”, “plan”, “foresee”, “believe”, or
“continue”, or the negatives of these terms or variations of them
or similar terminology. We refer you to the Company’s filings with
the Canadian securities regulatory authorities and the U.S.
Securities and Exchange Commission, as well as the risks described
under the “Financial risk management”, “Critical accounting
estimates and judgments”, and “Risks and uncertainties” sections of
our most recent Management’s Discussion and Analysis for a
discussion of the various factors that may affect these
forward-looking statements. Material factors and assumptions that
were applied in drawing a conclusion or making a forecast or
projection are also set out throughout such document.
Forward-looking information is inherently uncertain and the
results or events predicted in such forward-looking information may
differ materially from actual results or events. Material factors,
which could cause actual results or events to differ materially
from a conclusion or projection in such forward-looking
information, include, but are not limited to changes in general
economic and financial conditions globally or in one or more of the
markets we serve and our ability to implement our growth strategies
and plans. These factors may cause the Company’s actual performance
in future periods to differ materially from any estimates or
projections of future performance expressed or implied by the
forward-looking statements included in this press release.
There can be no assurance that the expectations represented by
our forward-looking statements will prove to be correct. The
purpose of the forward-looking statements is to provide the reader
with a description of management’s expectations regarding the
Company’s future financial performance and may not be appropriate
for other purposes. Furthermore, unless otherwise stated, the
forward-looking statements contained in this press release are made
as of the date hereof, and we do not undertake any obligation to
update publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events,
or otherwise unless required by applicable legislation or
regulation. The forward-looking statements contained in this press
release are expressly qualified by this cautionary statement.
About Gildan
Gildan is a leading manufacturer of everyday basic apparel. The
Company’s product offering includes activewear, underwear and
socks, sold to a broad range of customers, including wholesale
distributors, screenprinters or embellishers, as well as to
retailers that sell to consumers through their physical stores
and/or e-commerce platforms and to global lifestyle brand
companies. The Company markets its products in North America,
Europe, Asia Pacific, and Latin America, under a diversified
portfolio of Company-owned brands including Gildan®, American
Apparel®, Comfort Colors®, GOLDTOE®, Peds®, in addition to the
Under Armour® brand through a sock licensing agreement providing
exclusive distribution rights in the United States and Canada.
Gildan owns and operates vertically integrated, large-scale
manufacturing facilities which are primarily located in Central
America, the Caribbean, North America, and Bangladesh. Gildan
operates with a strong commitment to industry-leading labour,
environmental and governance practices throughout its supply chain
in accordance with its comprehensive ESG program embedded in the
Company's long-term business strategy. More information about the
Company and its ESG practices and initiatives can be found at
www.gildancorp.com.
Investor inquiries: Jessy Hayem, CFA
Vice-President, Head of Investor Relations (514) 744-8511
jhayem@gildan.com |
Media inquiries:Genevieve GosselinDirector, Global
Communications and Corporate Marketing(514)
343-8814ggosselin@gildan.com |
Gildan Activewear (NYSE:GIL)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024
Gildan Activewear (NYSE:GIL)
Graphique Historique de l'Action
De Mai 2023 à Mai 2024