ATS Automation Tooling Systems Inc. announced that, following a review of all proxies submitted by shareholders of the company, its board of directors will resign at 10 a.m. Eastern time on September 13. This will allow the September 14 annual meeting of shareholders to proceed on an orderly basis with the election of the new directors outlined in the information circular of Goodwood Inc. and Mason Capital Management LLC dated September 5.
The outgoing board and the new incoming directors believe this action serves the best interests of ATS. As a result of this move, the annual meeting of shareholders will be procedural in nature (i.e. involving only director elections and the reappointment of auditors). Neither management, the outgoing board nor the new directors intend to give any presentations or make any statements at the meeting. The new board will be meeting immediately following the shareholders' meeting and it is expected that further announcements will follow in due course.
The incoming directors are Neil Arnold, John K. Bell, J. Cameron McDonald, Michael E. Martino, Gordon Presher, Peter H. Puccetti and Neale X. Trangucci.
Concurrent with the board's decision to resign, the company's president and CEO, Ron Jutras, resigned effective September 12. Gerry Beard has also resigned as vice president and CFO, but will be remaining with the company to assist with the transition.
ATS Automation Tooling Systems 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. ATS employs approximately 3,500 people at 24 manufacturing facilities in