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Glenn J. Chamandy is President and Chief Executive Officer of Gildan Activewear. Mr. Chamandy is a founder of the Company and continues to be a major shareholder.
Under Mr. Chamandy's leadership, Gildan has become the largest worldwide manufacturer and marketer of T-shirts, and the undisputed market leader in the North American imprinted T-shirt industry. Sales have increased from U.S. $224 million in 1999, Gildan's first fiscal year as a public company, to approximately U.S. $650 million projected for the Company's current fiscal year. During this time, the Company has achieved average annual growth in earnings per share of close to 30% and has maintained an average return on equity of close to 30%. The Company's shares are traded on both the TSX and the NYSE. The share price has increased from U.S. $1.75 at the time of its Initial Public Offering in June 1998 (after given effect to two subsequent stock splits) to over U.S. $33. Its equity market capitalization has increased from U.S. $70 million at the time of the IPO to approximately U.S. $2.0 billion.
The Company has announced a 5-year strategic plan to continue its sales and earnings growth. In addition to continuing to build on its leadership position in the North American market for imprinted T-shirts, sweatshirts and sports shirts, the Company's plans include penetration of the mass-market retail channel for these products, the introduction of complementary products such as men's and boy's underwear and athletic socks, and significant expansion into new international markets.
Glenn Chamandy is married with two children and lives in Montreal. | 