Canada’s Gildan Activewear appoints Vince Tyra as president & CEO

Gildan Activewear Inc has appointed Vince Tyra as president and chief executive officer (CEO), effective February 12, 2024. Glenn J Chamandy has left his position as president and CEO and director of the company. Craig A Leavitt, a director of the company since 2018, will serve as interim president and chief executive officer until Tyra assumes his new position.

“The board is confident that Vince is the right person to lead the company into the next stage of its evolution and growth. He has an extensive career as a global organisation leader with experience as an apparel industry executive, an operator, an investor and transitioning founder-led companies. Vince’s diverse professional background will provide the necessary leadership skills to propel Gildan to even greater success,” said Donald C Berg, chairman of the board.

Vince Tyra has been appointed as the new president and CEO of Gildan Activewear Inc, effective February 12, 2024.
Glenn J Chamandy leaves his role as president and CEO.
Craig A Leavitt will be interim president and CEO until Tyra starts.
Tyra, with vast experience in apparel industry leadership and investment, aims to continue Gildan’s growth and success.

“Over the span of his 40-year career, Glenn has been a forerunner in our industry, taking Gildan from a small family-owned business to a leading apparel company with over $3 billion in revenues,” said Berg. “We thank Glenn for his service and wish him well.”

Tyra stated, “I am looking forward to joining Gildan early in the new year. It is a truly iconic business with an unparalleled global reputation. I look forward to working closely with the board and the senior executive team, and all of the extremely talented employees to leverage their knowledge and expertise so that we continue maximising value for all of Gildan’s stakeholders.”

Throughout his career spanning leadership roles in the apparel and investment sectors, Vince has demonstrated an exceptional ability to drive growth and shareholder value, while building strong teams and key relationships with a diverse range of stakeholders, the company said in a press release.

Vince brings to Gildan a deep understanding of the apparel industry from manufacturing processes to distribution and brand building. He led alphabroder where he spearheaded the transformation of the business through a merger and during his six years as CEO, he tripled alphabroder’s revenue, making it the industry leader. Before alphabroder, Vince was president of Fruit of the Loom, where he led a turnaround of the company culminating in its sale to Berkshire Hathaway.

Vince also brings strong financial acumen. He was an operating partner at Southfield Capital, where he was a member of the Investment Committee. Most recently, he served at Houchens Industries as senior vice president of corporate strategy and mergers and acquisitions, leading the strategic growth of this $4 billion in revenue holding company, through investments in various industry sectors including consumer products and retail. He also served as the University of Louisville’s vice president and director of Intercollegiate Athletics, establishing a new culture of excellence and compliance, while orchestrating the rebuilding of this major NCAA athletics programme.

“In my brief tenure as interim president and CEO, it will be my privilege to work with this great team to ensure continued orderly operations of this highly profitable enterprise and ensure a successful transition for Vince as our new leader. Gildan is well positioned to build upon our strong market share and best in class capabilities,” said Craig A Leavitt, Board member and new Interim CEO.

Fibre2Fashion News Desk (KD)