1. BLDP re-elected all director nominees at the Annual General Meeting. 2. KPMG LLP appointed as the company's auditor. 3. Executive compensation approach received majority approval. 4. Director votes show strong shareholder support for leadership. 5. Ballard aims for sustainable fuel cell power solutions.
Re-election of directors reflects stability and confidence in management, often comforting investors. Historically, strong board support has led to positive stock movements in similar companies.
Leadership stability through re-elected directors can enhance investor trust, influencing stock performance. The majority shareholder support also indicates confidence in the direction of the company.
Immediate investor sentiment may improve from AGM results, impacting stock price in the short term. Longer-term impact depends on operational performance and market conditions.
/PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced results of its 2025 Annual General Meeting, which was held on June 4th.
All nominees listed in the Management Proxy Circular dated April 7th, 2025 were elected as directors of the Company. Each of the Ballard directors was re-elected by a majority of the votes cast by shareholders present or represented by proxy. Director biographies are available in the "Our Leadership" section of the Company's website.
| Director Nominee | Votes For | % For | Votes Withheld | % Withheld |
|---|---|---|---|---|
| Kathy Bayless | 84,684,573 | 97.71 | 1,988,964 | 2.29 |
| Michael Chen | 84,336,534 | 97.30 | 2,337,005 | 2.70 |
| Jacqueline Dedo | 78,793,325 | 90.91 | 7,880,214 | 9.09 |
| Douglas P. Hayhurst | 78,041,127 | 90.04 | 8,632,412 | 9.96 |
| Randy MacEwen | 84,892,738 | 97.95 | 1,780,800 | 2.05 |
| Hubertus M. Muehlhaeuser | 77,913,248 | 89.89 | 8,760,291 | 10.11 |
| Marty Neese | 84,225,903 | 97.18 | 2,447,635 | 2.82 |
| James Roche | 84,789,591 | 97.83 | 1,883,947 | 2.17 |
| Yingbo Wang | 84,290,998 | 97.25 | 2,382,540 | 2.75 |
| Janet Woodruff | 77,861,876 | 89.83 | 8,811,662 | 10.17 |
In addition, KPMG LLP, Chartered Accountants, was re-appointed as auditor for the Company, and an advisory vote approved the approach to executive compensation. Details of each of these resolutions are included in the Company's Management Proxy Circular.
| Item | Votes For | % For | Votes Against | % Against | Withheld/ Abstain | % Withheld/ Abstain |
|---|---|---|---|---|---|---|
| Appointment of Auditors | 88,666,862 | 85.24 | - | - | 15,351,003 | 14.76 |
| Executive Compensation | 76,971,303 | 88.81 | 9,702,236 | 11.19 | - | - |
Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power. To learn more about Ballard, please visit www.ballard.com.
Ballard Power Systems: Sumit Kundu – Investor Relations, +1.604.453.3517 or info@ballard.com
SOURCE Ballard Power Systems Inc.