The Board of Directors of Ballard Power Systems Inc. (Vancouver, BC) announced that Dennis Campbell has stepped down as President and Chief Executive Officer. The departure of Campbell follows the recent sale of Ballard's German subsidiary, Ballard Power Systems AG (BPSAG), and Ballard's recently completed restructuring. With Campbell's departure, which was mutually agreed and is effective immediately, Chairman of the Board John Sheridan 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 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 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 Motor. 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 CEO 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 as Lead Independent Director while Sheridan acts in the dual capacity of Chairman and interim President and Chief Executive Officer.
