BUSINESS

Gildan hires second new finance chief this year, this time from Rio Tinto Alcan

04/29/2015 01:41 EDT | Updated 08/05/2015 12:59 EDT
MONTREAL - Gildan Activewear is hiring a new chief financial and administrative officer, for the second time this year.

Rhodri Harries, 51, who has been CFO for Rio Tinto Alcan, will be Gildan's No. 2 executive — a position that Gildan has been trying to fill since longtime CFO Laurence Sellyn told the company that he intended to retire by mid-2015.

Sellyn returned to the CFO's post on an interim basis in February after his previous replacement, James Kehoe, resigned after about a month to take the CFO's position at his former employer, Kraft Foods Group Inc.

Gildan (TSX:GIL) said Wednesday that Sellyn will remain for a short time to ensure an orderly transition to Harries.

Harries originally joined Alcan in 2004 and held various finance positions with the aluminum company after it was acquired by Rio Tinto. He became CFO for Rio Tinto's aluminum business in 2014.

Gildan reports its first-quarter results on May 14. Its net earnings are expected to decrease nearly 27 per cent to US$58 million despite higher revenues at US$631 million, according to analysts polled by Thomson Reuters.