Apparel maker Gildan Activewear Inc. racked up $77 million in costs in a battle with shareholders that led to the reinstatement of Chief Executive Officer Glenn Chamandy after a five-month absence.
The expenses included $15.3 million in severance for Vince Tyra, who became CEO in January and departed in May when a pro-Chamandy group of shareholders won a vote and installed a new board. The itemized tally was included in Gildan’s second-quarter earnings statement released Thursday.
Arun Bajaj, a former senior executive who left alongside Tyra, received $9.1 million in severance. The company also spent $33.3 million in ...
