CAMBRIDGE, ON,
March 14, 2016 /CNW/ - ATS Automation
Tooling Systems Inc. (TSX: ATA) ("ATS" or the "Company")
today announced that Anthony Caputo,
the Chief Executive Officer of the Company, will be leaving the
Company in February, 2017.
In connection with this, Mr. Caputo and the
Company have entered into a transition agreement that, among other
things, provides for continuity, an orderly transition of
leadership, and that Mr. Caputo may leave earlier if a transition
is completed. Mr. Caputo will remain on the Board of
Directors of ATS throughout the transition. ATS will initiate
a thorough search and selection process for a successor suitable to
lead the Company as it continues to realize on its growth and value
creation ambitions.
Mr. David
McAusland, the Chairman of the Board, commented, "On behalf
of the Board of Directors, I would like to thank Anthony for his
contribution towards building ATS's industry leadership.
Anthony and the Board will work together through the transition
period to ensure that ATS continues its strategy to grow as a
provider of enabling manufacturing solutions for customers across
many industries."
Mr. Anthony
Caputo stated, "It has been a privilege to help build this
world-class company with a great team. ATS is a global leader
with Fortune 500 customers and extremely talented and committed
employees. ATS is well positioned to continue to execute on
its growth and value creation strategy."
About ATS
ATS is an industry-leading automation solutions provider to many of
the world's most successful companies. ATS uses its extensive
knowledge base and global capabilities in custom automation, repeat
automation, automation products and value-added services including
pre-automation and after-sales services to address the
sophisticated manufacturing automation systems and service needs of
multinational customers in markets such as life sciences,
chemicals, consumer products, electronics, food, beverage,
transportation, energy, and oil and gas. Founded in 1978, ATS
employs approximately 3,500 people at 24 manufacturing facilities
and over 50 offices in North
America, Europe,
Southeast Asia and China.
Forward Looking Statements:
This news release contains certain statements that constitute
forward-looking information within the meaning of applicable
securities laws ("forward-looking statements"). Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of ATS, or developments in ATS's
business or in its industry, to differ materially from the
anticipated results, performance, achievements or developments
expressed or implied by such forward-looking statements.
Forward-looking statements include all disclosure regarding
possible events, conditions or results of operations that is based
on assumptions about future economic conditions and courses of
action. Forward-looking statements may also include, without
limitation, any statement relating to future events, conditions or
circumstances. ATS cautions you not to place undue reliance upon
any such forward-looking statements, which speak only as of the
date they are made. Forward-looking statements relate to, among
other things, timing of departure of the CEO, expectations in
relation to the continuity, and orderly transition of leadership
contemplated by the transition agreement, Mr. Caputo remaining on
the Board of Directors throughout the transition, and the Company's
intention to initiate a search and selection process for a
successor suitable to lead the Company. The risks and
uncertainties that may affect forward-looking statements include,
among others: that the CEO departs at a time other than as
currently contemplated; that the transition period evolves other
than as expected; that Mr. Caputo's tenure on the Board is other
than what is contemplated; and that the search process produces
results inconsistent with expectations; and other risks detailed
from time to time in ATS's filings with Canadian provincial
securities regulators. Forward-looking statements are based on
management's current plans, estimates, projections, beliefs and
opinions, and other than as required by applicable securities laws,
ATS does not undertake any obligation to update forward-looking
statements should assumptions related to these plans, estimates,
projections, beliefs and opinions change.
SOURCE ATS Automation Tooling Systems Inc.