ATS NYSE: ATS held its 2026 annual and special meeting of shareholders, where investors approved the election of eight directors, reappointed Ernst & Young LLP as auditor and supported the company’s non-binding advisory vote on executive compensation. Shareholders did not approve a proposal to amend the company’s bylaw number one.
More than 88% of ATS’ outstanding common shares were represented at the virtual meeting or by proxy, Chairman Michael E. Martino said.
All eight nominees were elected to the board: Avik Dey, Joanne S. Ferstman, Kirsten Lange, Martino, Sharon C. Pel, Daniel A. Pryor, Philip B. Whitehead and CEO William Douglas “Doug” Wright.
Chair Outlines Value-Creation Priorities
Martino, who said this was his first full year as ATS chair, said he took the role as the company’s largest shareholder after 20 years with the business because he was dissatisfied with its performance over the preceding three years. He said he believes ATS is an undervalued platform capable of increasing in value by multiples of its current valuation in the coming years.
“Every decision of the board will be judged by one question: Does it make ATS a more valuable company?” Martino said.
He identified four value-creation levers under Wright’s leadership:
- Deepening the ATS Business Model, or ABM, a lean-management system, across operations to improve accountability, margins and cash-flow returns on investment.
- Increasing aftermarket sales and service revenue, which Martino said is growing faster than equipment sales. He noted that best-in-class competitors generate more than 40% of revenue from aftermarket activities.
- Returning to organic growth through technology investments, new commercial tools and exposure to areas of secular demand for mission-critical automation, including small modular reactors, radiopharmaceuticals and certain medical devices.
- Restarting value creation through capital allocation and mergers and acquisitions.
Martino said ATS expects significant margin improvement to begin to be achieved over the next 18 months. He also said the company had rapidly deleveraged during the past year, with its net debt ratio falling below three times, a level he said could enable engagement with larger value-accretive M&A targets.
CEO Cites Portfolio Review and Execution Focus
Wright, speaking at his first annual meeting as CEO, said he had completed a comprehensive portfolio review and site assessments since joining ATS. The process reinforced his confidence in the company’s employees, technical capabilities and customer relationships, he said.
Wright said ATS serves markets with long-term growth drivers and that its teams address complex scientific and manufacturing needs, including work intended to improve patient outcomes, support food production and contribute to energy security.
“We have a clear plan. Now it’s about execution,” Wright said, adding that he was confident ATS could translate its plan into improved performance and meaningful value creation.
The meeting did not include shareholder questions. ATS said final voting results would be released in accordance with Toronto Stock Exchange and New York Stock Exchange policies and filed on EDGAR and SEDAR+.
About ATS (NYSE:ATS)
ATS Corporation NYSE: ATS is a Canada-based global provider of automation and energy solutions. Headquartered in Cambridge, Ontario, the company specializes in the design, engineering and manufacturing of custom automation and test systems, as well as fluid handling and control products. Since its founding in 1978, ATS has focused on delivering integrated hardware and software solutions that help original equipment manufacturers (OEMs) improve efficiency, quality and throughput across a range of industries.
Through its Automation segment, ATS develops bespoke assembly and testing platforms for sectors such as life sciences, consumer electronics, automotive and industrial equipment.
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