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CAMBRIDGE, Ontario - ATS Corporation (TSX:ATS) (NYSE:ATS), currently valued at $3.2 billion, announced Monday that Chief Executive Officer Andrew Hider will step down from his position and the company’s Board of Directors by the end of August to pursue a leadership opportunity outside the automation industry. According to InvestingPro data, the company’s stock has shown strong momentum with a 12% return over the past six months.
Ryan McLeod, the company’s Chief Financial Officer since 2020, will serve as interim CEO while the board conducts a search for a permanent replacement. McLeod has nearly two decades of experience at ATS.
As a result of his departure, Hider will withdraw his candidacy for board re-election at the company’s upcoming Annual General Meeting on August 7, 2025. ATS will file an amendment to its management information circular to reflect this change.
"Since joining us over eight years ago, Andrew has led ATS through a period of substantial growth, both organic and through acquisition," said David McAusland, Chairman of the Board of Directors, in a press release statement.
Mike Martino, current board member who is anticipated to become the new Board Chair following the August AGM, expressed gratitude for Hider’s leadership, noting he has put "ATS in a solid position for the future."
The company stated that its outlook for the current fiscal quarter and fiscal year remains unchanged.
ATS Corporation provides automation solutions to multinational customers in industries including life sciences, transportation, food & beverage, consumer products, and energy. Founded in 1978, the company employs over 7,500 people at more than 65 manufacturing facilities and 85 offices globally.
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