ATS announces election of new board and appointment of new interim Chief Executive Officer
TSX: ATA
CAMBRIDGE, ON, Sept. 13 /CNW/ - ATS Automation Tooling Systems Inc. today
announced that, at its shareholders' meeting held earlier today, ATS'
shareholders elected a new board consisting of the director nominees
previously proposed by Goodwood Inc. and Mason Capital Management, LLC. The
board of directors of ATS now consists of the following seven individuals:
Neil D. Arnold Gordon Presher
John K. Bell Peter H. Puccetti
J. Cameron MacDonald Neale X. Trangucci
Michael E. Martino
Following the shareholders' meeting, the new board named John K. Bell as
interim Chief Executive Officer of ATS, effective immediately. Mr. Bell, who
lives in Cambridge, has a successful 30 year entrepreneurial career
specializing in start-up, growth and turnaround situations with extensive
experience in technology, innovation, and automation.
Mr. Bell stated: "The new board looks forward to fulfilling the important
mandate given to us by ATS' shareholders. We are committed to ATS' employees,
customers and shareholders around the world and are focused on providing
strong and focused new leadership to the company so as to facilitate our
continued growth and industry leadership. There is hard work ahead of us, but
we are confident in our ability to bring positive change to the company so
that ATS and its stakeholders can benefit from the significant potential of
our business. Today's changes are a necessary first step in unlocking that
value and ensuring our continued growth."
The new board has also named Neil D. Arnold as its new non-executive
Chairman. Mr. Arnold brings extensive governance experience and financial
expertise to his new role.
One of the board's immediate priorities is to identify a permanent Chief
Executive Officer for ATS and is commencing a search process to that end. It
is expected that, once a permanent Chief Executive Officer is appointed, this
committee will also work closely with that individual to promptly identify a
new permanent Chief Financial Officer.
About ATS
ATS Automation Tooling Systems Inc. provides innovative, custom designed,
built and installed manufacturing solutions to many of the world's most
successful companies. Founded in 1978, ATS uses its industry-leading knowledge
and global capabilities to serve the sophisticated automation systems needs of
multinational customers in industries such as healthcare,
computer/electronics, automotive and consumer products. It also leverages its
many years of repetitive manufacturing experience and skills to fulfill the
specialized repetitive equipment manufacturing requirements of customers.
Through its solar business, ATS participates in the growing solar energy
industry and through its precision components business it produces, in high
volume, precision components and subassemblies. ATS employs approximately
3,500 people at 24 manufacturing facilities in Canada, the United States,
Europe, southeast Asia and China. The Company's shares are traded on the
Toronto Stock Exchange under the symbol ATA. Visit the Company's website at
www.atsautomation.com.
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For further information: John K. Bell, Interim Chief Executive Officer, (519) 650-2332