CANADA: Gildan CEO to divest 1m shares
Gildan Activewear CEO and president Glenn Chamandy is to sell up to 1m of his shares in the company over the next 11 months under a pre-arranged share disposition plan.
But he will still remain one of the apparel maker's largest investors, with more than 6m shares - representing around 5% of outstanding shares on a fully diluted basis.
Earlier this month the Montreal-based firm recorded an 18% rise in first quarter earnings, buoyed by revenue increases in both its major operating segments. It also reiterated its full-year forecast of net sales of $2.35bn and adjusted EPS of $3.00-3.10.
US apparel maker Gildan Activewear has appointed James Kehoe as its new chief financial and administrative officer, with effect from 1 January....
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