Ballard Announces Management and Board Changes.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- The Board of Directors of Ballard Power Systems Ballard Power Systems (TSX: BLD, NASDAQ: BLDP), located in Burnaby, British Columbia -- a suburb of Vancouver -- is a company that designs, develops, and manufactures zero emission proton-exchange-membrane fuel cells. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :BLD BLD Build BLD Blood BLD Blade BLD Blonde BLD Breakfast Lunch Dinner BLD Bukas-Loob Sa Diyos (Filipino: Open In Spirit To God) BLD BASIC Bload Graphics (File Name Extension) BLD Below Limit of Detection )(NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BLDP BLDP Ballard Power Systems (stock symbol) ) today announced that Mr. Dennis Campbell has stepped down as President and Chief Executive Officer. The departure of Mr. Campbell follows the recent sale of Ballard's German subsidiary, Ballard Power Systems AG (BPSAG), and Ballard's recently completed restructuring. With Mr. Campbell's departure, which was mutually agreed and is effective immediately, Mr. John Sheridan John Sheridan can refer to:
The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Bell Canada, has been named interim President and Chief Executive Officer and will assume day-to-day management of the company. "Following the successful completion of the sale of BPSAG, and the final phase of our corporate restructuring, it's time for me to move on to other challenges," said Mr. Campbell. "I'm extremely proud of the accomplishments that the Ballard organization has delivered under my watch. We are a stronger, more focused company, with a clear vision and a plan to change the world for the better." "On behalf of the Board of Directors, I want to recognize Dennis for his leadership of Ballard over the past three years," said Mr. Sheridan. "I am very confident in Ballard's future, with our solid strategic plan and the recently strengthened foundation of our Alliance partnership with DaimlerChrysler and Ford. I look forward to the opportunity to work more closely with the Ballard team, and our partners, as we move ahead." The Board will immediately begin a search for a permanent President and Chief Executive Officer to lead Ballard forward in the execution of its strategy and the next phase of the company's development. The Board has appointed Ian Bourne Bourne, town (1990 pop. 16,064), Barnstable co., SE Mass., crossed by Cape Cod Canal; settled 1627, inc. 1884. Bourne Bridge (1935), across the canal, made the town an entry point to Cape Cod and a resort and commercial center. as Lead Independent Director while Mr. Sheridan acts in the dual capacity of Chairman and interim President and Chief Executive Officer. About Ballard Ballard Power Systems is recognized as the world leader in developing, manufacturing and marketing zero-emission proton exchange membrane A proton exchange membrane (PEM) is a semipermeable membrane generally made from ionomers and designed to conduct protons while being impermeable to gases such as oxygen or hydrogen. fuel cells. Ballard's mission is to develop fuel cell power as a practical alternative to internal combustion engines through technology leadership. To learn more about what Ballard is doing with Power to Change the World(R), visit www.ballard.com. All figures are reported in US dollars, unless otherwise noted. For further information, or to arrange an interview with a Ballard spokesperson, please call Rebecca Young at 604-454-0900. This release contains forward-looking statements that are based on the beliefs of Ballard's management and reflect Ballard's current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. When used in this release, the words "estimate", "project", "believe", "anticipate", "intend", "expect", "plan", "predict", "may", "should", "will", the negative of these words or such other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current views of Ballard with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in those forward-looking statements. Ballard, the Ballard logo, Nexa and Power to Change the World are registered trademarks of Ballard Power Systems Inc. Ballard Power Systems Inc. (TSX:BLD) (NASDAQ:BLDP) |
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