Fusion Fuel Green PLC announces resignation of CFO Gavin Jones and appointment of Frederico Figueira de Chaves as Interim CFO.
Quiver AI Summary
Fusion Fuel Green PLC announced the resignation of Gavin Jones as Chief Financial Officer, effective January 24, 2025, as he pursues a new opportunity while remaining Company Secretary. Frederico Figueira de Chaves has been appointed as Interim Chief Financial Officer; he previously served in this role from 2020 to 2023 and is currently the Chief Strategy Officer and Head of Hydrogen Solutions. The company expressed gratitude for Jones's contributions and emphasized Figueira de Chaves's expertise in guiding the company through a critical phase as it focuses on expanding its hydrogen solutions and gas services. This leadership transition comes as Fusion Fuel aims to strengthen its position in the energy services sector.
Potential Positives
- The appointment of Frederico Figueira de Chaves as Interim Chief Financial Officer brings back an experienced leader who previously served as CFO, ensuring continuity in financial strategy and operational management.
- Mr. Figueira de Chaves' extensive expertise in the hydrogen ecosystem and financial stewardship positions him well to lead the company through its next phase of growth, particularly in expanding hydrogen solutions and gas services.
- Gavin Jones' continued involvement as Company Secretary and his pledge to support a seamless transition reflects a commitment to maintaining stability during this leadership change.
Potential Negatives
- The resignation of the Chief Financial Officer, a key leadership position, may raise concerns about the stability and continuity of the company's financial strategy during a critical growth phase.
- The need for an interim CFO could signal underlying issues within the company's management structure or strategy, potentially impacting investor confidence.
- The announcement comes at a time when the company is trying to advance its strategic priorities, which could complicate decision-making and execution without a permanent CFO in place.
FAQ
Who is the new CFO at Fusion Fuel Green?
Frederico Figueira de Chaves has been appointed as the Interim Chief Financial Officer effective January 24, 2025.
What happened to the previous CFO of Fusion Fuel?
Gavin Jones resigned to pursue a new opportunity but will continue to serve as Company Secretary.
What roles is Frederico Figueira de Chaves currently holding?
He is the Interim CFO and also serves as the Chief Strategy Officer and Head of Hydrogen Solutions.
What are Fusion Fuel's strategic priorities moving forward?
The company is focused on expanding its hydrogen solutions and gas services businesses to reinforce its leadership in energy solutions.
Where can I learn more about Fusion Fuel Green?
Visit the Fusion Fuel website at https://www.fusion-fuel.eu or follow them on LinkedIn for more information.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
DUBLIN, Jan. 29, 2025 (GLOBE NEWSWIRE) -- via IBN -- Fusion Fuel Green PLC (Nasdaq: HTOO) (“Fusion Fuel” or the “Company”), a leading provider of comprehensive energy engineering, advisory and supply solutions, today announced the resignation of Gavin Jones as Chief Financial Officer and the appointment of Frederico Figueira de Chaves as Interim Chief Financial Officer, effective January 24, 2025. Mr. Jones has opted to pursue a new opportunity; however, he will continue to serve as Company Secretary and has pledged his support to ensure a seamless transition.
The Company’s Board of Directors is pleased to announce the appointment of Frederico Figueira de Chaves as interim Chief Financial Officer. Mr. Figueira de Chaves previously held the position of Chief Financial Officer at Fusion Fuel from 2020 to 2023, where he was instrumental in shaping the Company's financial strategy and operational framework. Mr. Figueira de Chaves is currently serving as the Company’s Chief Strategy Officer and Head of Hydrogen Solutions and will assume this additional role while maintaining his existing responsibilities, leveraging his extensive financial and strategic expertise, while supported by an experienced in-house finance team.
“On behalf of the Board of Directors, I would like to extend our heartfelt appreciation to Gavin for his outstanding service to Fusion Fuel since joining the Company in 2021,” stated Jeffrey Schwarz, Chairman of the Board of Fusion Fuel. “His steady leadership has been pivotal in establishing a strong foundation for the Company’s growth. We are grateful for his commitment to excellence and professionalism, and we wish him every success as he embarks on this exciting new chapter in his career.”
Reflecting on his tenure, Mr. Jones commented: “This is a bittersweet moment for me. Over the past four years, I have had the privilege of collaborating with an exceptional team to navigate the various challenges and opportunities that have shaped Fusion Fuel’s journey. These years have been immensely rewarding, and I will carry these experiences with me throughout my career. I extend my gratitude to the Board of Directors, my colleagues, and the entire finance team for their trust and support. I firmly believe that Fusion Fuel is well-positioned for continued success, and I look forward to its continued progress.”
The appointment of Mr. Figueira de Chaves as Interim CFO comes at a crucial juncture for Fusion Fuel as the Company advances its strategic priorities. His profound understanding of the hydrogen ecosystem, coupled with a proven track record in financial stewardship and strategic planning, positions him uniquely to guide the Company through its next phase of growth. With a sharpened focus on expanding its hydrogen solutions and gas services businesses, Fusion Fuel is strategically poised to reinforce its status as a leader in integrated energy solutions.
About Fusion Fuel Green plc
Fusion Fuel Green PLC (NASDAQ: HTOO) is an emerging leader in the energy services sector, offering a comprehensive suite of energy engineering and advisory solutions through its Al Shola Gas and BrightHy subsidiaries. Al Shola Gas provides full-service industrial gas solutions, including the design, supply, and maintenance of liquefied petroleum gas (LPG) systems, as well as the transport and distribution of LPG to a broad range of customers across commercial, industrial, and residential sectors. BrightHy, the Company’s newly launched hydrogen solutions platform, focuses on delivering innovative engineering and advisory services that enable decarbonization across hard-to-abate industries.
Learn more about Fusion Fuel by visiting our website at https://www.fusion-fuel.eu and following us on LinkedIn .
Forward-Looking Statements
This press release includes “forward-looking statements.” Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target”, “may”, “intend”, “predict”, “should”, “would”, “predict”, “potential”, “seem”, “future”, “outlook” or other similar expressions (or negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Fusion Fuel has based these forward-looking statements largely on its current expectations, including but not limited the ability of the investment reported on to be consummated as anticipated. Such forward-looking statements are subject to risks and uncertainties (including those set forth in Fusion Fuel’s Annual Report on Form 20-F for the year ended December 31, 2023, filed with the Securities and Exchange Commission) which could cause actual results to differ from the forward-looking statements.
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