Gildan Activewear announces some executive leadership nominations and a transition of roles, as its chief financial officer heads for retirement.

The changes come as part of Gildan’s multi-year succession planning process, which intends to ensure the progression of the company’s Sustainable Growth Strategy.

Gildan Leadership Changes

  • Chuck Ward, currently president of sales, marketing, and distribution, has been appointed to the newly created role of executive vice president and chief operating officer (EVP and COO) effective March 1, 2025. Ward will continue to report to Glenn J. Chamandy, president and CEO. Ward joined Gildan in 2011 and has held various senior roles with the company.
  • After nearly 10 years in the EVP, chief financial and administrative officer role, Rhodri (Rhod) J. Harries, informed the board of his intention to retire on Jan. 1, 2026.
  • Luca Barile, currently CFO for sales, marketing, and distribution, will take over Harries’s role as EVP/CFO, assuming responsibilities on March 1, 2025. He joined Gildan in 2012, holding various financial planning and management roles before taking his current position.
  • To facilitate a smooth transition over 10 months, Harries will retain his chief administrator officer role until his retirement.

“I would like to express my deep appreciation to Rhod who has guided our financial performance through many key phases for our company,” Chamandy stated in a press release. “Since 2015, he has been an invaluable partner to me, his executive peers, and to his teams. He has safeguarded the company’s solid financial position through disciplined capital allocation, contributing to the achievement of our long-term financial objectives and setting the stage for the future.  Although we will still be working together through 2025, I wish him well in retirement next year and want to thank him for his significant contribution to our success.”

Chamandy continued by welcoming Ward and Barile into their new roles: “They are both outstanding leaders who are well positioned to step into their roles as we continue to achieve our financial goals, pursue the next exciting stage in Gildan’s growth strategy, and drive enhanced long-term value for our stakeholders”.

Q4 and Full-Year 2024 Financials

In a separate press release, Gildan shares its fourth-quarter and full-year 2024 financial report results. Some highlights from the report:

  • Q4 net sales of $822 million, up 5% vs. the prior year
  • Q4 operating margin of 21.8%, adjusted operating margin of 21.3%
  • Cash flow from operations of $211 million in Q4 and $501 million for the full year
  • Capital returned to shareholders of $246 million in Q4 and $889 million for the full year, through dividends and share repurchases