Marty Neese will replace Randy MacEwen as CEO of the Vancouver hydrogen fuel cell firm on July 7. Neese, who is currently CEO of California hydrogen company Verdagy, has been on Ballard’s board for 10 years. (The Logic)

Talking point: “The fuel cell industry is entering a new phase,” according to Neese, who said in a release that Ballard must reposition itself just months after its last restructuring. Both Neese and MacEwan were re-elected to the board on June 4 with overwhelming shareholder support. Still, Ballard is at a crucial juncture. It halted investments in China and put its business there under review. Meanwhile, the final decision on its Texas gigafactory investment is delayed until 2026 as it tries to hang onto US$94 million in U.S. government funding, much of which was awarded under the previous federal administration. U.S. President Donald Trump’s “big, beautiful bill” would restrict key incentives for the hydrogen industry. Ballard shares fell over 11 per cent by Tuesday afternoon.