07:18:06 EDT Wed 01 May 2024
Enter Symbol
or Name
USA
CA



Westport Fuel Systems Inc (2)
Symbol WPRT
Shares Issued 17,174,972
Close 2023-08-21 C$ 10.27
Market Cap C$ 176,386,962
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Westport Fuel's Johnson resigns as CEO, director

2023-08-22 09:08 ET - News Release

Mr. Dan Hancock reports

WESTPORT ANNOUNCES RESIGNATION OF DAVID JOHNSON, CHIEF EXECUTIVE OFFICER, AND NAMES INTERIM CEO

Westport Fuel Systems Inc.'s David Johnson, chief executive officer, has decided to step down as chief executive officer and will resign from the board, effective immediately. Tony Guglielmin, who serves on the Westport board and as chair of the audit committee, will act as interim CEO until such time that a replacement is identified. Bill Larkin, the company's chief financial officer, and Lance Follett, the company's chief legal officer, will both be taking on expanded roles during the transition period.

Mr. Johnson joined Westport in 2019 and, during his tenure, was charged with advancing the strategic focus of the company, including expansion of alternative fuel usage in transportation, including hydrogen. In addition to leading the company through the challenges of the pandemic, he led the growth of the HPDI 2.0 and LPG (liquified petroleum gas) businesses, brought the H2 HPDI fuel system from an idea to reality with demonstrator trucks on the road today, as well as introduced multiple H2 HPDI programs currently in various stages of testing and development. This outstanding progress led to the recently announced letter of intent to enter a joint venture with Volvo to further accelerate the adoption of Westport's HPDI fuel system.

"On behalf of the board, I would like to thank David for the progress and results Westport has achieved under his leadership, and wish him all the best in the future," said Dan Hancock, board chair of Westport Fuel Systems. "I have the utmost confidence in the future of Westport, and we remain focused on creating a better world through innovative energy solutions. As we transition to Tony's leadership, our priorities remain unchanged and our team remains dedicated."

"I am grateful to have been given the opportunity to lead Westport, and it has been a privilege to work with such a talented and innovative team. I am proud of the work we have accomplished together," said Mr. Johnson. "I truly believe in Westport's vision, and with the continued development of the H2 HPDI fuel system and the recently announced joint venture with Volvo, Westport is poised to dramatically advance transportation globally for the better. I will watch with interest as the team continues to meet its ambitious and important goals over the coming months and years."

Westport's board has formed a search committee to conduct and oversee a search for the company's next CEO. In the interim, Westport will maintain its course in executing its strategy, overseen by Mr. Guglielmin, a seasoned cleantech executive and long-time director of Westport.

About Westport Fuel Systems Inc.

Westport Fuel Systems is driving innovation to power a cleaner tomorrow. The company is a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels, such as natural gas, renewable natural gas, propane and hydrogen, to the global transportation industry. Its technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America and South America, Westport serves its customers in more than 70 countries with leading global transportation brands. Westport thinks ahead.

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