EnerSys names new CEO, cuts 11% of workforce, closes three facilities amid tariff uncertainty

Filed May 20, 2026 · Period ending March 31, 2026 · Compared to 10-K May 21, 2025 · ~2 min read

Key Changes

• high

  Shawn O'Connell replaced David Shaffer as CEO in May 2025 after nine years. New leadership immediately launched 11% workforce reduction (575 corporate/management roles, $21.5M severance) and announced closures of Tijuana (474 employees, $37M cost), Brazil (141 employees, $7.5M), and Monterrey facilities.

  Business: CEO transition; Notes: Leadership RIF and facility closures view on EDGAR →
• high

  Operating cash flow more than doubled to $547.6M from $260.3M, driven by improved collections and expanded receivables securitization. Company upsized credit facility by $150M to $1.0B, extended maturity to 2030, and paid off all term loans. Net leverage improved to 1.1x from 1.3x EBITDA.

  MD&A: Liquidity; Notes: Cash flow and credit facility verify on EDGAR →
• high

  DOE funding review for $199M battery manufacturing award now described as 'ongoing' versus prior '90-day' timeframe, creating uncertainty about disbursement timing. Management softened tariff mitigation language from 'mitigate most' to 'mitigate some' financial impact as negotiations remain fluid.

  Risk Factors: DOE funding; MD&A: Tariff outlook verify on EDGAR →