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Plug Power, Inc. (NASDAQ:PLUG) shares are trading marginally higher on Tuesday in the premarket session.
According to Benzinga Pro, PLUG stock has lost over 81% in the past year. Investors can gain exposure to the stock via Global X Hydrogen ETF (NASDAQ:HYDR) and ETF Series Solutions Defiance Next Gen H2 ETF (NYSE:HDRO).
Today, the company announced that it has hired Dean Fullerton as its new Chief Operating Officer (COO).
Fullerton joins from Amazon.com, Inc. (NASDAQ:AMZN), where he was responsible for engineering services for North America, Europe and emerging countries.
Plug and Amazon have enjoyed a long-term business relationship characterized by strategic investments and successful collaborations.
In April 2017, Amazon signed a major deal to acquire Plug’s hydrogen fuel cell solutions for its material-handling equipment.
Over the past seven years, their partnership has grown, expanding to additional sites and applications of Plug’s hydrogen fuel cells.
“Hiring Dean as COO is a landmark hire for our organization,” said Plug CEO Andy Marsh.
As COO for Plug, Fullerton will work with the executive team to craft and execute strategic plans, focusing on growth opportunities and operational enhancements. He will oversee global project execution, manufacturing, supply chain, and hydrogen generation.
Plug Power said that Fullerton’s role will be crucial in guiding the organization toward its strategic goals.
“As a long-time client of ours, we have a strong working relationship with Dean and look forward to his contributions to the expansion of our logistics operations as we pioneer and scale up a vertically integrated green hydrogen ecosystem,” Marsh added.
Price Action: PLUG shares are trading higher by 0.42% to $2.410 premarket at last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
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