Q: Hello, wondering if you have any insight into this drama at GIL? Both sides seem to have very good arguments to support their side. On the company side, it appears that that the former CEO was acting in his own interests and diversions. On the Browning side, it seems this new GIL CEO has a poor track record. Any thoughts on this would be greatly appreciated. Thank you.
5i Research Answer:
There is a bit too much drama for us here. At the end of the day, GIL is a company with 44,000 employees and it will survive. The former CEO is not perfect, we will grant that. But during his tenure the stock rose more than 10-fold, and that is the metric that means the most to us. The fight is becoming the most expensive proxy fight in Canada, and will hurt short term results. We would prefer the former CEO coming back.