In a battle that neither party is showing any interest in backing down, shareholder Browning West is the most recent player to make a move in the Gildan saga, questioning the company’s “due diligence” in naming Vince Tyra as its new CEO. For those playing catch-up, previous CEO Glenn Chamandy was ousted in December 2023 in a surprise move by Gildan, a move that set off a storm of reactions from the shareholders, the board of directors, and Chamandy himself.

In the most recent development, Browning West asked the board to answer questions regarding its “apparent diligence failures” during the process that led to the appointment of Tyra, according to several news reports. Originally slated to take over this month, Gildan sped up the process when Tyra officially took over in January.

Browning West has largely been the leader against these developments, calling for a special shareholder meeting in which Gildan reportedly set for a date of May 28, 2024. However, Gildan also accused Browning West of accumulating shares of Gildan in violation of the HSR Act.

The battle has raged back and forth, with Browning West’s most recent concerns being aimed at Tyra as well as Gildan. The shareholder accused Tyra of having “a clear track record of value destruction” in previous roles (which include with Fruit of the Loom and Broder Bros). Browning West also questioned Gildan’s research into his prior experience.

The shareholder did say that it met with Tyra, along with the chair of Gildan’s corporate government and social responsibility committee Maryse Bertrand, in an effort to better understand his appointment. However, Browning West stated that it left the meeting unsatisfied.

“We ultimately left the meeting with more questions than answers due to Tyra’s and Bertrand’s inability to address our concerns pertaining to poor financial results at Fruit of the Loom Inc. and Broder Brothers Co,” Browning West said in a statement shared by Just Style.