VANCOUVER, BC, March 10, 2021 /PRNewswire/ - Ballard Power
Systems (NASDAQ: BLDP) (TSX: BLDP) today announced the appointment
of Mr. Paul Dobson as Senior
Vice-President and Chief Financial Officer, effective March 29th, 2021. Mr. Dobson will
replace Tony Guglielmin, who is
retiring after serving as the Company's CFO since 2010. Tony will
continue to serve as an employee in an advisory role until
May 31st, 2021 to support
the CFO transition process.
"I am thrilled to welcome Paul to Ballard," commented
Randy MacEwen, Ballard's President
& CEO. "With over 25 years of global financial, operations and
leadership experience, including significant experience in the
energy industry, Paul joins our executive team at an important
time. I am confident that he will hit the ground running and will
be a valuable business partner as we grow our business organically
and pursue M&A opportunities."
"This is an exciting time to step into the CFO role at Ballard,
given the clear momentum in the hydrogen and fuel cell industry and
Ballard's leading market position," said Paul Dobson. "I look forward to working with
Randy and the entire Ballard organization to continue executing our
strategic plan, accelerate growth and deliver value to
shareholders. And, on a personal note, I'm highly energized by the
compelling opportunities we have in front of us to decarbonize
mobility and grow the business over the coming decade."
Mr. MacEwen added, "On behalf of the entire Ballard
organization, we thank and recognize Tony for his immense
contributions to Ballard's strategy, organizational development and
market positioning over the past decade. Tony is a consummate
professional with integrity and commitment to prudent financial
management. He leaves the Company with a solid financial position
and a dedicated finance and administration team. We wish Tony well
during the next chapter of his life in retirement."
Tony Guglielmin stated, "It's
been a privilege to serve as Ballard's CFO. I retire with
considerable confidence in Ballard's future, with the Company
well-positioned to lead in the transition to a cleaner,
zero-emission world, with a very strong balance sheet. I look
forward to Ballard's ongoing success under Randy's leadership, with
a strong executive team and dedicated workforce, and to working
with Paul on a smooth transition over the coming weeks."
The appointment of Paul Dobson
follows a comprehensive search process supported by a leading
global search firm. Mr. Dobson has extensive executive-level
experience in the energy and financial sectors. He currently serves
on the board of directors of Methanex Corporation, the world's
largest producer and supplier of methanol. He most recently served
as CFO and Interim CEO of Hydro One, an electricity transmission
and distribution utility serving Ontario,
Canada. Previously, he held senior financial and operating
roles at Direct Energy for 15 years, including as CFO and COO.
Prior to that he served for 10 years at CIBC in various finance,
strategy and business development roles. He holds an Honours
Bachelor's degree from the University of
Waterloo, an MBA from the Ivey Business School, Western University and is a CPA,
CMA.
About Ballard Power Systems
Ballard Power Systems'
(NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for
a sustainable planet. Ballard zero-emission PEM fuel cells are
enabling electrification of mobility, including buses, commercial
trucks, trains, marine vessels, passenger cars and forklift trucks.
To learn more about Ballard, please visit www.ballard.com.
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SOURCE Ballard Power Systems Inc.