Ballard Power Systems Management

Management criteria checks 2/4

Ballard Power Systems' CEO is Randy MacEwen, appointed in Oct 2014, has a tenure of 10.08 years. total yearly compensation is $2.27M, comprised of 19.9% salary and 80.1% bonuses, including company stock and options. directly owns 0.11% of the company’s shares, worth €427.81K. The average tenure of the management team and the board of directors is 2.3 years and 5.4 years respectively.

Key information

Randy MacEwen

Chief executive officer

US$2.3m

Total compensation

CEO salary percentage	19.9%
CEO tenure	10.1yrs
CEO ownership	0.1%
Management average tenure	2.3yrs
Board average tenure	5.4yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Randy MacEwen's remuneration changed compared to Ballard Power Systems's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	-US$326m
Jun 30 2024	n/a	n/a	-US$156m
Mar 31 2024	n/a	n/a	-US$153m
Dec 31 2023	US$2m	US$453k	-US$144m
Sep 30 2023	n/a	n/a	-US$117m
Jun 30 2023	n/a	n/a	-US$125m
Mar 31 2023	n/a	n/a	-US$152m
Dec 31 2022	US$2m	US$443k	-US$160m
Sep 30 2022	n/a	n/a	-US$183m
Jun 30 2022	n/a	n/a	-US$171m
Mar 31 2022	n/a	n/a	-US$137m
Dec 31 2021	US$2m	US$474k	-US$114m
Sep 30 2021	n/a	n/a	-US$85m
Jun 30 2021	n/a	n/a	-US$65m
Mar 31 2021	n/a	n/a	-US$54m
Dec 31 2020	US$2m	US$487k	-US$49m
Sep 30 2020	n/a	n/a	-US$45m
Jun 30 2020	n/a	n/a	-US$40m
Mar 31 2020	n/a	n/a	-US$36m
Dec 31 2019	US$1m	US$426k	-US$35m
Sep 30 2019	n/a	n/a	-US$37m
Jun 30 2019	n/a	n/a	-US$36m
Mar 31 2019	n/a	n/a	-US$34m
Dec 31 2018	US$1m	US$399k	-US$27m
Sep 30 2018	n/a	n/a	-US$19m
Jun 30 2018	n/a	n/a	-US$14m
Mar 31 2018	n/a	n/a	-US$11m
Dec 31 2017	US$2m	US$430k	-US$8m

Compensation vs Market: Randy's total compensation ($USD2.27M) is above average for companies of similar size in the German market ($USD1.05M).

Compensation vs Earnings: Randy's compensation has increased whilst the company is unprofitable.

CEO

Randy MacEwen (55 yo)

10.1yrs

Tenure

US$2,270,975

Compensation

Mr. R. Randall MacEwen, also known as Randy, serves as Director at Brookfield Renewable Corporation since November 5, 2021 and serves as its Independent Director since 2022. He has been the Chief Executive...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
R. MacEwen	CEO, President & Non-Independent Director	10.1yrs	US$2.27m	0.11% € 427.8k
Mark Biznek	Senior VP & COO	1.8yrs	US$823.83k	0% € 0
David Mucciacciaro	Senior VP & Chief Commercial Officer	2.5yrs	US$707.81k	0.00083% € 3.2k
Mircea Gradu	Senior VP & Chief Engineering Officer	2.3yrs	US$788.73k	0.00053% € 2.0k
Kate Igbalode	Senior VP & CFO	less than a year	no data	no data
Kate Charlton	VP Corporate Finance & Investor Relations	no data	no data	no data
Kevin Colbow	Senior VP & CTO	8.8yrs	US$521.59k	0.024% € 93.1k
Kerry Hillier	General Counsel & Corporate Secretary	no data	no data	0.0030% € 11.8k
Nicolas Pocard	Vice President of Marketing & Strategic Partnerships	no data	no data	no data
Sarbjot Sidhu	Senior VP and Chief People & Culture Officer	2.1yrs	US$417.75k	0.017% € 65.2k
Lee Sweetland	Senior VP & Chief Transformation Officer	less than a year	no data	0.0048% € 18.6k
Jesper Themsen	President & CEO of Europe	3.7yrs	US$544.63k	no data

2.3yrs

Average Tenure

58yo

Average Age

Experienced Management: PO0's management team is considered experienced (2.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
R. MacEwen	CEO, President & Non-Independent Director	10.1yrs	US$2.27m	0.11% € 427.8k
Kathleen Bayless	Independent Director	2.9yrs	US$99.81k	0.00033% € 1.3k
Jacqueline Dedo	Director	less than a year	no data	no data
Hubertus Muehlhaeuser	Independent Director	3.3yrs	US$114.53k	no data
James Roche	Independent Non-Executive Chairman of the Board	9.8yrs	US$133.78k	0.017% € 64.6k
Marty Neese	Independent Director	8.9yrs	US$105.47k	0% € 0
Douglas Hayhurst	Independent Director	12.8yrs	US$114.91k	0.0017% € 6.5k
Janet Woodruff	Independent Director	7.6yrs	US$111.13k	no data
Wenmiao Chen	Director	less than a year	no data	no data
Yingbo Wang	Director	less than a year	no data	no data

5.4yrs

Average Tenure

61.5yo

Average Age

Experienced Board: PO0's board of directors are considered experienced (5.4 years average tenure).

Ballard Power Systems Management

Management criteria checks 2/4

Key information

Recent management updates

High number of new directors

Ballard Announces Appointment of Jacqui Dedo to Board of Directors

Ballard Power Systems Inc., Annual General Meeting, Jun 05, 2024

Ballard Power Systems Inc. Announces Board Appointments

Ballard Announces Retirement of Duy-Loan Le from Board of Directors

Ballard Power Systems Announces Appointment of Mark Biznek as Chief Operating Officer

Recent updates

New major risk - Share price stability

Third quarter 2024 earnings released: US$0.68 loss per share (vs US$0.21 loss in 3Q 2023)

Second quarter 2024 earnings released: US$0.10 loss per share (vs US$0.10 loss in 2Q 2023)

New major risk - Revenue and earnings growth

First quarter 2024 earnings released: US$0.14 loss per share (vs US$0.11 loss in 1Q 2023)

High number of new directors

Ballard Announces Appointment of Jacqui Dedo to Board of Directors

Ballard Power Systems Inc., Annual General Meeting, Jun 05, 2024

Ballard Power Systems Inc. Reports Impairment Charge on Property, Plant and Equipment for the Fourth Quarter Ended December 31, 2023

Full year 2023 earnings released: US$0.48 loss per share (vs US$0.58 loss in FY 2022)

Ballard Power Systems Inc. to Report Q4, 2023 Results on Mar 11, 2024

Ballard Power Systems Inc. to Report Q4, 2023 Results on Mar 11, 2024

Ballard Power Systems Inc. Announces Board Appointments

Ballard Power Systems Inc. Reports Impairment Result for the Third Quarter Ended September 30, 2023

Third quarter 2023 earnings released: US$0.21 loss per share (vs US$0.14 loss in 3Q 2022)

Second quarter 2023 earnings released: US$0.10 loss per share (vs US$0.19 loss in 2Q 2022)

First quarter 2023 earnings released: US$0.11 loss per share (vs US$0.14 loss in 1Q 2022)

Full year 2022 earnings released: US$0.58 loss per share (vs US$0.39 loss in FY 2021)

Ballard Announces Retirement of Duy-Loan Le from Board of Directors

Ballard Power Systems Announces Appointment of Mark Biznek as Chief Operating Officer

Third quarter 2022 earnings released: US$0.14 loss per share (vs US$0.10 loss in 3Q 2021)

Ballard Power Systems Inc. Appoints Mircea Gradu as Chief Engineering Officer

Second quarter 2022 earnings released: US$0.19 loss per share (vs US$0.074 loss in 2Q 2021)

Ballard Power Systems Inc. Announces Executive Changes

Ballard Power Systems Inc. Announces Executive Changes

First quarter 2022 earnings released: US$0.14 loss per share (vs US$0.062 loss in 1Q 2021)

Ballard Power Systems and Linamar Corporation Announces Unveiling of Its Concept Hydrogen Fuel Cell Powered Class 2 Truck Chassis

Ballard Power Systems Inc. Grants Industry-First Type Approval by DNV for the Fcwave™ Marine Fuel Cell Module

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Ballard Power Systems & ABB Receive Approval in Principle for High-Power Fuel Cell Concept to Power Ships

Ballard Power Systems Inc. and Chart Industries, Inc. Successfully Test Fuel Cell Powered by Liquid Hydrogen

Third quarter 2021 earnings released: US$0.10 loss per share (vs US$0.046 loss in 3Q 2020)

Ballard Power Systems Launches FCmove™-HD+

Second quarter 2021 earnings released: US$0.074 loss per share (vs US$0.047 loss in 2Q 2020)

Ballard Announces Rebranding as Industry Enters Next Phase of Development

Forecast to breakeven in 2024

Ballard Power Systems Inc. Announces its Proton Exchange Membrane Fuel Cell Technology and Products Powered Fuel Cell Electric Vehicles

Full year 2020 earnings released: US$0.20 loss per share (vs US$0.15 loss in FY 2019)

Ballard Power Systems Inc. Announces Executive Changes

Canadian Pacific Railway Limited to Employ Ballard Fuel Cells in Hydrogen Locomotive Project

Ballard Power Systems Inc. Signs Joint Development Agreement with Chart Industries for Heavy-Duty Mobility Onboard Hydrogen Solutions

Ballard Power Systems Inc. Signs MOU with Global Energy Ventures for Development of Fuel Cell-Powered Ship

Ballard Power Systems Receives Purchase Orders from Solaris Bus & Coach S.A

New 90-day high: €31.07

Ballard Announces Order for Modules to Power Scotland's First Fuel Cell-Powered Train

Ballard Power Systems Announces Retirement of Ian Sutcliffe

Senior VP & CFO recently sold €164k worth of stock

New 90-day high: €18.12

CFO & VP recently sold €179k worth of stock

Ballard Power Systems Inc. Announces Van Hool Follow-On Order for 10 Fuel Cell Modules to Power Buses in Holland

Ballard Power Systems Inc. Signs Collaboration Agreement with Eltek Nordic

New 90-day high: €16.11

CFO & VP recently sold €65k worth of stock

Revenue misses expectations

Third quarter 2020 earnings released: US$0.046 loss per share

Ballard Power Systems Inc. Announces Tony Guglielmin to Retire as Chief Financial Officer, Effective as of March 31, 2021

Ballard Power Systems Announces an Agreement to Collaborate with Mahle

CFO & VP recently sold €343k worth of stock

Ballard Power Systems and MAHLE to Collaborate on Fuel Cell Propulsion Systems for Heavy and Medium-Duty Trucks

CFO & VP recently sold €134k worth of stock

CEO, President & Director recently sold €930.3k worth of stock

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members