Plug Power appoints insider Jose Luis Crespo as next chief executive (updated)

Plug Power

07/10/2025 13:59

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Oct 7 (Reuters) - Hydrogen fuel cell maker Plug Power PLUG.O on Tuesday named company insider Jose Luis Crespo as its next chief executive officer, succeeding longtime leader Andy Marsh, sending its shares down 3% in premarket trading.

Crespo, who is currently the chief revenue officer, will become president effective October 10 and formally assume the CEO role after the filing of Plug's 2025 annual report in March 2026, the company said.

Marsh, who has led Plug for nearly two decades, will remain as CEO through the transition and subsequently take on the role of executive chair.

Crespo joined Plug in 2014 and has been credited with helping build a sales pipeline exceeding $8 billion, overseeing relationships with major customers such as Amazon AMZN.O, Walmart WMT.N and Home Depot HD.N.

 (Reporting by Dharna Bafna in Bengaluru; Editing by Vijay Kishore)

 ((Dharna.Bafna@thomsonreuters.com;))