Hydrogen fuel cell manufacturer Plug Power announced today that it has hired Andy Marsh, former CEO and co-founder of direct current power systems company Valere Power, to serve as the company’s new president and chief executive officer.
Marsh replaces Plug’s CEO since 2001 Roger Saillant, who retired today, his 65th birthday.
Marsh signed the deal to take over as CEO today and is expected at work tomorrow, Plug Power Vice President of Strategy and Communications Eoin Connolly said.
Details of Marsh’s contract were not released.
According to Plug Power officials Marsh, 52, led Valere Power from 2001 until 2007 during which the company grew to 200 employees and had $90 million in annual revenues from selling its DC power products to the telecommunications sector. Prior to founding Valere, Marsh reportedly spent almost 18 years with Lucent Bell laboratories where he held a variety of sales and technical management positions.
Marsh’s resume gives him a combined 25 years of experience with the telecommunications sector, the major market for Plug Power’s GenCore backup power system.
“I think [Marsh] brings with him experience and insight, particularly in the wireless communications area because of his track record. He ought to be able to use his experience to put this company squarely in front of the customers in ways that will lead to commercial sales and volume,” Saillant said.
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