Plug Power Names Insider Jose Luis Crespo As New CEO

Plug Power (PLUG) announced on Tuesday that it has appointed insider Jose Luis Crespo as its new Chief Executive Officer, succeeding long-time head Andy Marsh.  Shares of the company fell over 1% at the opening bell.

The company stated that Marsh will continue to serve as CEO during the transition period and has been appointed executive chair of the board, a position he will retain after March 2, 2026. In conjunction, George McNamee has been named Lead Director, and the company said that both Board appointments are effective Oct. 10, 2025.

The appointment of Crespo is to be effective as of the date the company files its annual report for the year ended Dec. 31, 2025. This is expected in March 2026. “My focus will be on execution, profitability, and customer success, ensuring that Plug continues to convert its technology leadership into sustainable growth,” Crespo said.

Retail sentiment on Plug Power improved to ‘extremely bullish’ from ‘bullish’ territory a day ago, with message volumes at ‘extremely high’ levels, according to data from Stocktwits.

Crespo joined Plug Power in 2014 and most recently served as Chief Revenue Officer. The company stated that, in his roles with the firm for more than a decade, Crespo has played a pivotal role in Plug’s growth, serving as the primary architect of a sales funnel that has generated over $8 billion in transformational opportunities. 

Plug also said that Crespo has been instrumental in strengthening relationships with key customers such as Amazon, Walmart, and Home Depot, while driving hydrogen adoption programs.

Plug Power stock has rallied 76% in the last 12 months.

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