Plug Power Inc. (Nasdaq: PLUG), a fuel cell manufacturer, announced changes to its corporate structure.
The company says the changes allow CEO Roger Saillant to have more direct involvement with daily operations while creating a more traditional, optimal organizational structure. President Gregory Silvestri announced he would resign. Dr. Saillant will now assume the title of President and CEO.
As a result of these changes, three vice presidents will join the executive management team and report directly to Dr. Saillant.
“This restructuring further improves the alignment of the organization with our efforts to reduce costs and improve reliability. I am encouraged by our ability to further develop the company by leveraging the experience and expertise of this newly appointed executive management team,” said Dr. Saillant.
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