Gildan Activewear CEO Chamandy Transfers Shares To Family Foundation

(RTTNews) - Gildan Activewear Inc. (GIL.TO, GIL) said that its President and Chief Executive Officer Glenn Chamandy has transferred 3 million Gildan common shares to a family foundation established for philanthropic purposes.

In addition, Chamandy plans to transfer 5 million common shares to an independent trust for the benefit of his family for estate planning purposes.

Gildan Activewear noted that the decisions are unrelated to Chamandy's ongoing role as President and CEO of the company, where he remains committed to leading the company's operations and its long-term growth strategy.