Gildan Activewear Inc's co-chief executive officer, chairman of the board and chairman of the executive committee of the company, H Greg Chamandy, has resigned.

H Greg Chamandy, a co-founder of the Montreal-based T-shirt maker, has also resigned as a member of the board of directors, "to pursue other interests" the company said in a statement.

With immediate effect, Glenn J Chamandy will assume sole responsibility for the chief executive officer role.

Robert M Baylis, an independent director, will replace H Greg Chamandy as chairman of the board.

"I am committed to the challenge of leading Gildan's management team as we implement the next phase of our growth strategy which we announced in December of 2003", stated

Glenn Chamandy will lead the company into the next phase of its growth strategy, which includes the expansion of its integrated offshore fabric-manufacturing capacity in Honduras, the Dominican Republic and now in Nicaragua.