ATI said that its chairman and co-founder as well as former chief executive officer , K.Y. Ho, has retired as a director and officer of the company. Ho co-founded ATI in 1985 and served as CEO until June 2004.

"ATI has been more than a major part of my career, it has been a part my life that I will always treasure. With the OSC matter now resolved completely in my favour, I have decided to spend more time with family and pursue my personal interests," Ho said.

The current chief exceutive David Orton will be nominated for election as a director of ATI at the annual meeting of shareholders which has been scheduled for January 26.