VANCOUVER - Ballard Power Systems (TSX:BLDP) (NASDAQ: NASDAQ:BLDP) (TSX: BLDP), a leader in fuel cell technology, announced today the appointment of Ms. Jacqueline (Jacqui) Dedo to its Board of Directors. Ms. Dedo's extensive experience in the transportation industry, particularly with electrified propulsion in heavy-duty mobility, is expected to bring valuable insights to Ballard's strategic direction.
Her background includes a variety of leadership roles across the mobility industry, including positions at Piston Group, Dana Holding (NYSE:DAN) Corp., The Timken Company (NYSE:TKR), Motorola (NYSE:MSI), and Robert Bosch Corporation.
Ballard's Chair, Jim Roche, expressed confidence in the new board member, stating, "Her deep background in the global mobility industry and her experience with innovation and growth in an entrepreneurial environment will be invaluable to Ballard."
Ms. Dedo is also the co-founder of Aware Mobility, LLC, and serves on the boards of several other companies, including Li-Cycle Holdings Corp., Workhorse Group Inc (NASDAQ:WKHS)., Carbon Revolution, and the Cadillac Products Automotive Company. With over two decades of board experience and a career spanning more than 40 years in the mobility industry, Ms. Dedo brings a wealth of knowledge to her new role at Ballard.
The company, which is committed to delivering fuel cell power for a sustainable planet, produces zero-emission PEM fuel cells for a range of applications, including buses, commercial trucks, trains, marine vessels, and stationary power.
The information in this article is based on a press release.
InvestingPro Insights
As Ballard Power Systems (NASDAQ: BLDP) welcomes Ms. Jacqueline Dedo to its board, the company's financial health and market performance remain a key focus for investors. With a market capitalization of approximately $795.97 million, Ballard showcases a commitment to innovation in the clean energy sector. Despite the enthusiasm for their technological advancements, the company's financial metrics reveal some challenges.
According to InvestingPro data, Ballard holds a negative P/E ratio of -5.64, indicating that the company is not currently profitable. This aligns with the InvestingPro Tips that suggest analysts do not expect Ballard to be profitable this year, which may be a point of consideration for potential investors. Additionally, the company's gross profit margin for the last twelve months as of Q4 2023 stands at -21.33%, emphasizing the struggle to translate revenue into gross profit.
The stock's recent performance also reflects some volatility, with a 1-month price total return of -14.47% and a 3-month price total return of -29.82%. This could be indicative of the market's reaction to the broader challenges faced by the company, including the quick cash burn and weak gross profit margins highlighted in the InvestingPro Tips.
For investors seeking a deeper dive into Ballard's financials and future outlook, there are additional InvestingPro Tips available. These tips can provide valuable context to Ms. Dedo's appointment and the company's strategic direction. Interested readers can find more insights and tips at: https://www.investing.com/pro/BLDP. To access these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. Currently, there are 11 more tips listed on InvestingPro, offering a comprehensive analysis for those closely monitoring Ballard's progress.
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