Ballard CEO to step down
The company's board of directors has appointed Marty Neese as his successor, effective July 7, 2025
Neese's prior leadership roles include chief operating officer at SunPower and Flex, where he led large-scale operational transformations
Ballard Power Systems Inc. (TSX:BLDP) last traded at C$2.41
Ballard Power Systems (TSX:BLDP) announced a significant leadership transition. After more than a decade of transformative leadership, Randy MacEwen will step down as president and chief executive officer. The company's board of directors has appointed Marty Neese as his successor, effective July 7, 2025.
'It has been a true privilege to lead Ballard for the past 11 years during a dynamic period for the company and hydrogen industry,' CEO MacEwen said in a news release on his departure. 'We have built a strong foundation that has positioned the company as an industry leader. Given changing industry dynamics, including a focus on product cost reduction, it is the right time for a new leader with a strong operational background to guide Ballard into the future.'
The appointment follows a comprehensive succession planning process led by the board. Neese, a seasoned executive with a strong track record in operational excellence, brings deep expertise in product standardization, cost reduction, volume production, and gross margin optimization. He has served on Ballard's board of directors for the past ten years and most recently held the role of CEO at Verdagy, a pioneering company in electrolysis and green hydrogen technologies.
Neese's prior leadership roles include chief operating officer at SunPower and Flex, where he led large-scale operational transformations. His appointment signals Ballard's commitment to scaling its operations and accelerating the commercialization of hydrogen fuel cell solutions.
MacEwen will continue to serve as CEO until Neese's official start date and will remain available in an advisory capacity through September 30, 2025, to ensure a smooth transition.
Ballard manufactures zero-emission fuel cells for buses, commercial trucks, trains, marine vessels and stationary power.
Ballard Power Systems Inc. (TSX:BLDP) last traded at C$2.41 and has risen 0.84 per cent since the year began, but has lost 35.73 per cent since time last year.
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