8-KLeadership ChangesExhibits & Filings

CELESTICA INC 8-K Report, Executive Changes (Sep 11, 2026)

Filed September 11, 2026For Securities:CLS

Summary

Celestica Inc. (CLS) has announced significant changes to its executive leadership team, effective October 1, 2026. Mandeep Chawla, currently the Chief Financial Officer, will transition to a newly created role as Group President, Global Markets. Concurrently, Todd Ankenmann, previously Senior Vice President, Finance, will assume the position of Chief Financial Officer. This leadership transition indicates a strategic shift and potential expansion of Celestica's global market operations, with Mr. Chawla's extensive experience likely to be leveraged in this new capacity. The appointment of Mr. Ankenmann, who also has a strong background with the company and prior experience at General Electric, suggests a focus on continued financial stability and growth. Both executives will see salary increases and significant equity awards, reflecting their expanded responsibilities and the company's investment in key leadership.

Key Highlights

  • 1Mandeep Chawla, CFO, appointed to new role of Group President, Global Markets.
  • 2Todd Ankenmann appointed as the new Chief Financial Officer.
  • 3Both appointments are effective October 1, 2026.
  • 4Mr. Chawla's compensation package includes a salary increase to $750,000, a 120% target incentive, and a $1.7 million equity award (40% RSUs, 60% PSUs).
  • 5Mr. Ankenmann's compensation package includes a salary increase to $600,000, an 80% target incentive, and a $1.45 million equity award (40% RSUs, 60% PSUs).
  • 6Both executives have extensive experience, with Mr. Chawla having served as CFO since 2017 and Mr. Ankenmann most recently as SVP, Finance.

Frequently Asked Questions

The creation of this new role and Mr. Chawla's appointment suggests a strategic focus by Celestica on expanding its global market presence and operations. His extensive experience within the company, particularly his leadership as CFO, is expected to be a key asset in driving growth and managing international initiatives.

Mr. Ankenmann joined Celestica in 2018 and most recently served as Senior Vice President, Finance. Prior to that, he held senior finance roles at General Electric for over a decade. His internal promotion and deep financial experience position him well to take over the CFO responsibilities, ensuring continuity in financial management.

Both executives will receive increased salaries, higher target incentive percentages under the Celestica Team Incentive Plan (CTI), and significant equity awards. Mr. Chawla's salary increases to $750,000 with a 120% target incentive and a $1.7 million equity award. Mr. Ankenmann's salary increases to $600,000 with an 80% target incentive and a $1.45 million equity award. These awards are structured with 40% RSUs and 60% PSUs.

This 8-K filing solely pertains to executive leadership changes and does not contain information related to the company's financial performance or operational results. Investors should refer to other SEC filings, such as the quarterly (10-Q) or annual (10-K) reports, for details on financial performance.