CAE (NYSE:CAE) has appointed Ryan McLeod as its next Chief Financial Officer, marking a key leadership change as the flight simulation and training giant shifts its focus from aggressive growth to margin expansion and operational excellence.
McLeod, who will officially take the reins on Feb. 23, 2026, joins the Montreal-based firm from ATS (NYSE:ATS).
During his nearly 20-year tenure at ATS—a $3 billion industrial automation leader—he served as CFO since 2020 and was credited with guiding the company through a period of significant global expansion and high-growth transformation.
The move comes at a pivotal moment for CAE, which has spent the last year undergoing a strategic overhaul under new CEO Matthew Bromberg.
McLeod replaces interim CFO Constantino Malatesta, who stepped into the role in September 2024 following the departure of Sonya Branco.
Malatesta will remain with the company to support the transition through the end of the fiscal year.
Analysts view the appointment as a signal that CAE is prioritizing "harvesting" its recent growth. F
ollowing a multi-year acquisition spree, the company is now focused on its three-pillar transformation plan: sharpening its portfolio, improving free cash flow, and achieving tighter operational controls.
McLeod’s experience in the automation sector—characterized by high-tech manufacturing and complex project delivery—parallels CAE’s current efforts to optimize its Defense and Civil Aviation segments.
McLeod will relocate to Montreal for the role.
Meanwhile, ATS Corporation announced that its VP and Corporate Controller, Anne Cybulski, will serve as its interim CFO effective Feb. 15.