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ATS Announces Resignation of CFO, Appointment of Interim CFO

CNW Group - Mon Jun 1, 7:00AM CDT

ATS Automation Tooling Systems Inc. (TSX:ATA.TO) ("ATS" or the "Company") today announced that Maria Perrella has resigned as Chief Financial Officer, effective June 26, 2020, to pursue another business opportunity with a privately held organization. Ryan McLeod, the Company's Vice President, Corporate Controller, will assume the role of interim Chief Financial Officer.

"On behalf of the Board of Directors, I thank Maria for her significant contributions to ATS over the last 12 years and for the important role she played in transformational change," said Andrew Hider, Chief Executive Officer of ATS. "We wish her every success moving forward."

Mr. Hider continued: "Ryan has worked closely with Maria and is in a good position to seamlessly transition to the interim CFO role."

Mr. McLeod is a CPA, CA, joined ATS in 2007 as Manager of Reporting and Compliance, became Director of Finance in 2010, and assumed the role of Vice President and Corporate Controller in 2014. Prior to ATS, he served in a finance management role at CIBC Mellon and began his career at Ernst & Young LLP.

About ATSATS 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 4,500 people at 22 manufacturing facilities and over 50 offices in North America, 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.

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' 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 are 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. The risks and uncertainties that may affect forward-looking statements include those risks detailed from time to time in ATS' filings with Canadian provincial securities regulators. There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein which speak only as of the date they are made. 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.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2020/01/c0655.html

SOURCE: ATS Automation Tooling Systems Inc.

Ryan McLeod, Vice President, Corporate Controller, 519 653-6500

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