Publications 

7 April 2024

Browning West seeks court order to prevent Gildan sale before vote on new directors

U.S. investment firm Browning West is seeking a court order preventing the board of Gildan Activewear Inc. from signing any binding deal to sell the clothing maker until shareholders vote on new directors. The request was made last week as an amendment to an existing suit in the Quebec Superior Court’s commercial division, filed by […]

14 March 2024

Gildan says allegations by key shareholder Browning West violated U.S. securities law

Gildan Activewear is accusing one of its largest shareholders of violating American securities law and has asked the regulator to investigate allegations that the investor has been spreading falsehoods about the Montreal-based clothing maker’s new chief executive, Vince Tyra. In a letter sent to the U.S. Securities and Exchange Commission late Thursday, Gildan alleged that U.S. […]

29 January 2024

Gildan to hold shareholder meetings in late spring for board of directors vote

Canadian clothing maker Gildan Activewear Inc., GIL-T locked in a fight with dissident investors over its decision to sack its chief executive officer in December, is convening its shareholders in late spring to vote on whether they want a new board. The company says the timeline for the meeting on May 28 will give investors “a reasonable […]

17 January 2024

Former CEO gives Gildan Activewear board a dressing-down

Former Gildan Activewear Inc. chief executive Glenn Chamandy fired back at the company’s latest accusations concerning his leadership, saying the board is seeking to unfairly harm his reputation and cast aspersions on his performance. The company on Tuesday took aim at Mr. Chamandy’s leadership, alleging he had become disengaged from his job, and that he had an […]

17 October 2023

Family Controlled Companies: Drivers of Canadian Economy

To listen to the full panel with Louis Audet (board member of IGOPP), about the most recent report of IGOPP on family businesses, please click here or on the image below (the panel’s duration is 43 minutes):

17 October 2023

Family Controlled Companies: Key Drivers of Canadian Economic Sustainability – Panel

To listen to the full panel with Louis Audet (board member of IGOPP), about the most recent report of IGOPP on family businesses, please click here or on the image below (the panel’s duration is 43 minutes):

13 October 2023

The performance of Canadian controlled companies listed on the S&P/TSX

Family-run businesses are the cornerstone of market economies. These companies are often imbued with a strong culture rooted in the values of their founder, a culture that develops and strengthens over time, sometimes even beyond the first generations who succeed one another at the helm of the business. They tend to make decisions with a […]

28 August 2023

No clear consensus on diversity disclosures

Securities regulators may agree on the need to improve issuers’ diversity disclosure, but they can’t agree on how to achieve it. A public consultation on the issue so far isn’t building consensus. In April, the Canadian Securities Administrators (CSA) proposed changes to corporate governance requirements, publishing two approaches for expanding diversity disclosures beyond gender. The Ontario […]

1 July 2023

Memorandum of IGOPP on Regulations 58-101 and 58-201

“Any organization governed by a board of directors must strive to constitute a board that is both legitimate and credible.”[1] A board’s credibility is indispensable to its effectiveness and “[its] credibility is measured not only by its in-depth knowledge of the company’s industry and its markets, of its business model, and its value-creation drivers, but […]

16 May 2023

Is the Sun Setting on Dual Class Share Structures?

Teck’s Dual Class Amendment Teck Resources Limited (“Teck”) recently announced that it will be collapsing its dual class share structure (“DCSS”) by introducing a six-year sunset for the multiple voting rights attached to its Class A common shares (the “Dual Class Amendment”). An overwhelming majority of Teck’s shareholders voted in favour of the Dual Class […]

1 May 2023

South African prison scandal raises concerns over Caisse’s G4S connections

[…] Even before this latest scandal, questions were being raised about why a Canadian corporate pillar like the Caisse would jump into the security industry and, later, associate itself with a company like G4S, which has a checkered recent history. Critics say the pension giant, which administers the retirement funds for thousands of public-sector employees, has no business […]

29 December 2022

Companies should disclose board members’ spoken languages to investors, Quebec group Médac says

A leading investors’ rights group in Quebec is pressing publicly traded Canadian companies to reveal what languages their board members speak, saying the disclosure is needed to ensure rising expectations for corporate diversity are being met. The call comes from Montreal-based Mouvement d’éducation et de défense des actionnaires, known as Médac. The group says the […]

9 June 2022

Shopify Shareholders ‘Approve’ Controversial “Founder Share” – With the Help of the Existing DCS

The 2022 Shopify AGM put the spotlight on two controversial theories for driving corporate success: the founder-CEO and multi-class share structures. When it went public in 2015, Shopify’s multi-class structure was fairly standard for an aspirational tech unicorn, if still unusual relative to capital markets as a whole. In recent years an increasing proportion of […]

2 May 2022

Caisse bows out of Montreal light rail project

Canadian pension fund giant Caisse de dépôt et placement du Québec is stepping away from a proposed new $10-billion light rail line in eastern Montreal after encountering seemingly insurmountable difficulties with the design of the downtown portion of the project. Quebec and Montreal will take over leadership of the venture, the two governments said in […]

11 April 2022

Shopify shares rise as tech company announces 10-for-1 stock split

Shopify Inc. co-founder, chair and chief executive Tobias Lutke has three young children. The billionaire is willing to give up the opportunity to pass along the company to his offspring in exchange for maintaining control for as long he works at the online commerce giant. Ottawa-based Shopify, Canada’s largest tech company, announced on Monday it plans […]

5 December 2021

Couche-Tard’s end of special voting rights will be closely watched by critics, defenders of dual-class share structures

n will set this week on the special voting rights held by the four founders of Alimentation Couche-Tard Inc., leaving the Canadian convenience store giant more exposed to investor pressure than ever before. Its fate will be closely watched by both critics and defenders of dual class share structures. Laval, Que.-based Couche-Tard is one of […]